NBC, Apple Squabble Over iTunes

If you miss an episode of NBC's Heroes or The Office, you won't be able to catch it on iTunes.

General Electric(GE Quote), the parent company of NBC, decided not to renew its contract to sell television shows on Apple's (AAPL Quote) iTunes after a disagreement over pricing.

The current contract runs through December, but Apple said Friday it won't sell NBC TV shows for the upcoming season beginning in September.

In a press release, Apple claimed that NBC sought wholesale price increases that would have resulted in customers being charged $4.99 for one television episode. Currently, television shows cost $1.99.

NBC shows accounted for 30% of iTunes' TV revenue last season and provided the service with three of its top 10 shows. Still, the company has agreements to sell shows from the three other major TV networks -- CBS(CBS Quote), News Corp.'s (NWS Quote) Fox and Disney's (DIS Quote) ABC -- as well as 50 cable channels.

Shares of Apple recently were up $1.78, or 1.3%, to $138.03. GE shares were up 45 cents, or 1.2%, to $38.85.