The Ecconomic Times expands on the recent chatter about the iTunes Cloud (iCloud?)service we’ve been hearing about.  The news site confirms that Apple has locked up deals with 3/4 of the top labels (Universal is widely reported to be the holdout) and is set to reveal the new service at next month’s WWDC.

The Cupertino, California-based gadget-maker is expected to launch a new Web-hosted music service next month, according to multiple reports, after negotiating deals with at least three of the four major record labels.

WWDC isn’t traditionally a venue for iTunes related news but we’ll give Apple a pass…