Google reportedly closes licensing deals with three of the four major record labels for MP3 store

The Wall Street Journal reports this evening that Google has finally cut deals with Sony Music Entertainment and Universal Music Group that will allow the labels' huge catalogs to be used in the long-rumored Google Music Store. The news comes just a few hours after reports sufaced earlier today that Google was nearing a deal with Universal.

With these two agreements, Google now has the rights to offer recordings from three of the four major U.S. labels. In addition, Google has reached agreements with some of the largest music publishers, the report said.

Apple recently unveiled their iCloud music service and before that, Amazon launched its Cloud Drive and Cloud Player products earlier this year. Only Apple's cloud service though is accompanied by deals with record labels, whereas Amazon's is only a means to upload and stream music. Pretty basic.

With the support of three of the four labels, Google will be able to introduce a paid service with great added functionality. Music matching is a definite possibility as is some sort of music gifting. Google+ integration is also said to be on the way.

The signing leaves the Warner Music Group as the lone company amongst the major labels to not be rumored to have agreed to a deal. No word on why, but were guessing is has to do with money.

Google is currently set to introduce their MP3 store tomorrow at a special music event in Los Angeles.