Appleinsider reports that iTunes 4.9 is nearing the final stages of development and will be unveiled at the end of June or by the first week of July.
One new feature of iTunes 4.9 was demonstrated by Steve Jobs at the All Things Digital conference as well as the WWDC conference. The upcoming version will integrate PodCasting support to allow users to subscribe and download podcasts.
Appleinsider describes the new features which is expected to organize Podcasts into up to eight primary directories listed in the iTunes Music Store. Users may subscribe to Podcasts which will cause iTunes to automatically download and sync new listings.
All current Podcasts will be free, but pay "premium content" is believed to be in the works.