All Eyes on Google Ahead of Rumored Digital Music Store Launch

Google is generating no shortage of buzz Wednesday as the Internet search giant is widely expected to unveil its Google-branded online music store later today.

Google is believed to be planning a new online music store that will enable users to purchase and store songs online and then access the songs on multiple associated devices.

“They’re coming into this market rather late in the game, where there are large, established players,” Ray Valdes, an analyst at Gartner Inc. tells Bloomberg in reference to Google’s music store aspirations. “You can say it’s a saturated market.”

Regardless, Google is coming well-equipped to the fight for digital music supremacy. Google has reportedly already reached an agreement with Sony Corp.’s music unit. Vivendi SA (VIV)’s Universal Music Group and EMI Group Ltd. are also believed to be on board.

Google is expected to take a page out of Apple’s book and make songs available for $0.99 to $1.29.

Google’s event begins today at 2 p.m. Pacific, 5 p.m. Eastern. It will be streamed live at