A report by the Financial Times (registration required) cites unnamed executives who say that Apple is in talks with record labels to offer access to the entire iTunes music library for a lump sum price. The fee would be added as a premium option on an iPod or iPhone, or it could come as a monthly charge. It would allow downloading of any song at any time so long as the purchaser still owns the device, and the songs would be yours to keep.

Did Apple finally figure out that digital information is not like phonographs?

Apple may bundle unlimited iTunes with iPods