According to the San Francisco Chronicle, Apple is denying recent reports that the Universal Music Group isn't planning to renew its contract to sell music through iTunes, stating "We are still negotiating with Universal". Sources (such as the New York Times, Wall St. Journal, etc.) had said previously that Universal planned to end its contract with Apple, continue selling music via iTunes only as they saw fit, and exercise the option to grant exclusive rights to other online retailers. Now it looks as though the chips aren't off the table, and there may be some reconciliation between the two companies -- or least a few bags of money changing hands.

[Via TGDaily]

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Apple denies Universal departure rumors