The Universal Music Group - the largest music conglomerate in the world - has refused to renew its contract with iTunes. Universal seeks to change from its current year-long contract to a contract that would allow it to remove music on short notice if the two parties don't agree on pricing or any other terms in the future. While it would benefit neither party financially if Universal pulled its music from iTunes altogether (Universal earns 15% of its revenue through digital sales, and one out of three major label albums is distributed via Universal), this move may be a first step in shifting some of the negotiating power away from iTunes and move it towards content providers.
Universal won't renew iTunes contract (StarTribune.com)
Universal distributes some of the best major label artists. It's gonna be interesting to see what happens here. I almost feel that Uni really has the upper hand in the negotiations... maybe they'll knock Apple down a peg or something.