According to various reports, Apple is set to buy Swell which is a personalized radio and podcast application. The Cupertino company is said to be being around $30 million for the company.
Companies such as Spotify and Pandora have made music streaming extremely popular and as a result digital downloads have declined, directly impacting Apple when it comes to revenue generated through iTunes.
With the Swell App you can listen to unlimited personalized radio, some of the stations available are iTunes, NPR, ABC, ESPN, BBC, TED and CBC. The app gets glowing reviews on the app store but as part of the deal it will be removed shortly as Apple will integrate features and possibly some of the design into their podcast.
This is of course nothing compared to the $3.2 billion Beats acquisition but it shows that Apple continues to invest in their music platform.