Well that's that, apparently. Although this story has evolved quite a bit over the day, according to Peter Kafka over at All Things Digital, Apple has indeed coughed up the dough for music streaming service Lala. If you believe what you read in the report (and you probably can, Kafka tends to be a straight shooter), Apple's snapping up the company for what will amount to a bargain-basement price... possibly less than $.50 on the dollar. However, Kafka says at least one source claims his valuation of the deal is off, but we'll have to wait for some official word before we know for sure. If this turns out to all be true, the lingering question is still about Apple's reasoning behind the purchase -- is the company after a particular technology, or is there a service in the offing? Hopefully we'll know soon.
Note: If you want a little background on Lala, Ross Rubin has covered the service extensively in his Switched On column.