Apple reportedly buys domain for $4.5 million

Rumored sale hints at upcoming cloud music service.

Rumored domain name sale fuels speculation about the name of Apple's upcoming cloud music service.

As Apple prepares a cloud-based music service to complement iTunes, one thing we don't know is what it will be called. But a variety of tech sites are speculating that Apple will go with "iCloud," based on the rumored purchase of the domain name.

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GigaOm founder Om Malik reports based on an anonymous source that Apple has purchased from the Swedish company Xcerion for $4.5 million.

The Whois domain name lookup service still shows Xcerion as the owner of, but may simply not have been updated yet. Malik reports that Xcerion was willing to part with because it is rebranding its own service to "CloudMe." The Whois database does show that is now owned by Xcerion

Directing a Web browser to currently redirects you to the CloudMe site, an online file-sharing service.

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Apple is reportedly building a cloud-based music storage service, on the heels of Amazon releasing a music storage and streaming service for Web browsers and Android devices.

Apple may be late to the game, but given the wide user base of iTunes, iPods, iPhones and iPads, a cloud music service from Apple could quickly eclipse the competition.

This is all still just rumor, but "If the speculation is true, and Apple has chosen a name for its new service, then we may be seeing Apple's rumored online music storage service soon," PC World writes. "Perhaps as early as June during the company's annual Worldwide Developers Conference, as current rumors suggest."

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