Of course this would happen. According to the New York Post, Apple is lowballing record labels for the rights to use their music in a new music streaming service.
According to the Post, Apple is offering labels 4p per 100 listens. That's out of line from the 8p per 100 the likes of Pandora in the US pays out, not to mention the approximately 15p services backed by traditional radio pay, and Spotify's 23p (or as much as 33p for on demand, going by other sources' numbers).
Apple's music service would presumably be paired with iTunes Match, and is described by the Post as an internet radio service, which would be different from the on-demand services (and higher on-demand rates) of Spotify or Rdio. But payouts to rights holders have recently gotten more complicated for internet radio companies like Pandora, and crazy lowball offers like this one would seem to be Apple trying to elbow its way into the business without all the complications that the other guys live through. [NY Post]