Apple and record labels to compete for new type of album

Recent news from the recording industry and record labels is showing that there is possibly a new type of album on the horizon. Apparently, the four major record labels (EMI, Sony, Universal and Warner) have been working on a new file format called called CMX that will make albums more useful to consumers by adding extra content. As the story goes, they approached Apple with this format, and Apple declined to join with them. It now appears as if Apple is creating their own format to compete with that of the record labels.