by Christopher Freeburn | July 3, 2013 9:40 am
Insiders tell Bloomberg that Apple (AAPL) is close to securing an agreement with a major cable TV service provider that could bring TV channels directly it its Apple TV set top box.
The iPhone-maker could announce the deal with Time Warner Cable (TWC) within a couple of months. Under the deal, Apple TV owners, who are also subscribers to TWC would gain the ability to view TV channels through the Apple TV interface. The reported agreement marks Apple’s first deal with a cable TV provider.
Apple has been looking to expand the functionality of Apple TV. It recently announced deals with Time Warner (TWX) and Disney (DIS) to bring programming from popular cable channels to the device.
In order to boost its negotiation with other cable companies, Apple has recruited Pete Distad, formerly of Hulu, to handle its negotiations with other programming and cable providers.
Apple has long been rumored to be working on its own TV set. However, with fierce competition in the TV market, Apple rumors have more recently focused on the launch of a new set top box.
Shares of Apple rose fractionally in Wednesday morning trading.
Source URL: http://investorplace.com/2013/07/apple-tv-users-close-to-getting-time-warner-cable-channels/
Short URL: http://invstplc.com/1nydbE5
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.