Apple share price: Company in discussions over launching online TV service in September

on Mar 17, 2015
Updated: Oct 21, 2019
Listen

Apple Inc (NASDAQ:AAPL), the world’s largest technology company, is working on a plan to launch an online TV service this autumn, according to a report by The Wall Street Journal. Citing unnamed sources familiar with the matter, the newspaper said that the Cupertino-based tech giant was in talks with programmers to offer a slimmed-down bundle of TV networks from September. The sources added that the service would have about 25 channels, including major networks such as CBS, ABC and Fox.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

According to the report, for now the discussions do not involve NBCUniversal, which owns the NBC broadcast network and cable channels like USA and Bravo. The reason for this is a falling-out between Apple and NBCUniversal’s parent company Comcast. Apple and Comcast were reportedly in talks last year over the possibility of working together on a streaming TV service. However these discussions lapsed as the iPhone maker got the impression that Comcast was stalling while developing its own set-top box, the sources cited by The WSJ said.
While no expected subscription was revealed in the report, it was noted that executives from some media companies had suggested that Apple was probably aiming for a monthly fee of $30 to $40.The service will be available across all devices powered by the company’s iOS operating system, including the iPhome, the iPad and the Apple TV set-top boxes. The report suggested that Apple is likely to announce the service in June
In today’s trading, Apple shares were 1.8 percent higher at $127.16, shortly after the opening bell in New York. The stock has gained 15.1 percent since the start of the year. The company’s market capitalisation currently stands at $740.5 billion.
As of 15:55 GMT, Tuesday, 17 March, Apple Inc. share price is $126.34.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
Services Stock Market Tech