After nearly a year of speculation, rumor and talks, Apple has finally unveiled iTunes Radio, a Pandora-like service that will be funded by advertising revenue and let users build their own listening stations based on chosen songs/artists plus each user's iTunes buying history and iCloud account.

ITunes Radio isn't just a Pandora copy, which already has a major head start with 70 million users every month. For example, it'll allow labels to pitch music that can fit with a user's choices, and iTunes Radio will come with a "buy" button, which labels hope will spur iTunes sales.

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