UPDATE: Apple and right holders deny the news.

Apple has finally reached a deal with Paul McCartney over the distribution of the Beatles's discography on iTunes Store.

According to the a Daily Mail report (via United Press International), McCartney has reached a $400 million deal with Apple:

"British singer Paul McCartney has reached a $400 million agreement with iTunes for the distribution of the Beatles' back catalog."

McCartney will share this deal's gains with other holders of the Beatle's Discography rights, including former Beatles drummer Ringo Starr, other Beatles members' families (Harrison and Lennon) as well as pop singer Michael Jackson which purchased a part of the rights in the 80s.

No date is given for the availability of the Beatles' discography on iTunes at the moment. If the report is to be believed, we may expect Apple to make an announcement soon.