Spotify Closer to Universal Deal

Spotify, the popular European digital music service, is "a few weeks away" from inking a deal for U.S. rights to songs from Universal Music Group, the world's largest music company, according to people familiar with the talks.

But the London-based startup, which was valued at up to $1 billion this week by investors according to reports, could end up launching without Warner Music Group, the No.3 music label group, one person said.

And there are still doubts internally at Universal Music about whether a deal will be reached soon, according to another person familiar with the label owner's plans.