All four major label groups are working together to create a new format for the digital album tentatively titled CMX. Scheduled for a partial roll-out in November, the new digital format would include liner notes, lyrics, artwork and videos along with the mp3's in a single download.
The labels apparently approached Apple about involvement in the project and were rebuffed. Now Apple is also working on its own new album format dubbed Cocktail that will apparently be tethered to a new proprietary media device.