There are news all over the internet that Paul McCartney is sketching out a deal with Apple (formerly Apple Computers) to put the Beatles back catalog to iTunes.

Reports in the British press have Paul McCartney inking a $400 million deal to put the Fab Four’s back catalog on Apple’s iTunes music store.

I always thought that the two Apple (Apple and Apple Corp) have and issue in using the same name for a company (though I’ve been lazy and never research anything about it). Now I know that they had an agreement that Apple (computers) that they will stay away in the music business… Apparently the ‘music business’ only pertains to physical media, so MP3s and other electronic is a permitted and legal without any infringement.

If this deal pushes through, I say not only will the songs in the Sgt. Peppers Lonely Hearts Club Band be a big hit but Revolver too and Abbey Road (my personal favorite) and White Album.

McCartney—who is currently embroiled in an expensive divorce from former model Heather Mills—would receive some of the revenue, as would surviving Beatle Ringo Starr, the estates of John Lennon and George Harrison, as well as record company EMI and Sony/ATV Music Publishing, which controls publishing rights to many of the Beatles’ biggest hits in an arrangement with pop star Michael Jackson, who bought the ATV catalog for $47 million in 1985.