According to Bloomberg, Apple is nearing a deal with Time Warner Cable (TWC) to bring Time Warner Cable's live television channels to its Apple TV set top box, in what is the first potential deal Apple has struck with a cable company. Sources close to the situation said that an agreement could come within a few months.
It's not yet known if the potential deal would be similar to Apple's other deals for Apple TV and be app based. Time Warner Cable already has apps for both the iPhone and iPad that allow its customers to watch live television on those devices.
Apple could not be immediately reached for comment for this story.A deal with Time Warner Cable would mark a huge strategy shift for Apple, which in the past has added older content to the set top box. Most recently, Apple plugged a huge hole, adding content from HBO GO, a division of Time Warner (TWX), and Watch ESPN, a division of Walt Disney (DIS). Adding a potential deal with Time Warner Cable to these demonstrates that Apple is serious about increasing its software and services that are of value to its consumers. It also marks a change that Apple is willing to work with the cable companies on enhancing the television watching experience. In the past, there have been reports that Apple was working on its own television set, something that former CEO Steve Jobs hinted at in his biography, just before he passed away in 2011. Both Jobs and current CEO Tim Cook have previously said that the television watching experience is outdated. "When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years," Cook said in an interview at the end of last year. "It's an area of intense interest. I can't say more than that."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV