The Wall Street Journal is reporting that the Universal Music Group is going to notify Apple that it will not be renewing its contract with the iTunes Store but instead creating a "short term" sales agreement. The agreement would keep Universal's catalogue on iTunes for the time being.
Though it is unlikely to have sweeping effects immediately, the change could give Universal more flexibility in its dealings with competitors to iTunes -- for instance enabling the company to offer other digital download stores parts of its catalog exclusively to other services.