Apple is said to be holding advanced talks with content providers to offer TV shows for 99 cents on its iTV platform.
A recent report published on Bloomberg suggests that Apple is trying to strike potential deals with media houses to offer TV shows on all of its devices, the iPhone, iPad and iPod Touch, as well as Apple TV.
Apple is said to be in the final stages of negotiations with Fox network, a subsidiary of News Corporation, CBS, NBC Universal and Walt Disney, to join the streaming service. The service will allow users to rent a TV show a day after its airing, without the interruption from adverts, for 48 hours.
Although Apple has denied holding any such talks, reports are that the company is planning to hold a press event on 7 September, two weeks before the beginning of the prime-time TV season in San Francisco, to announce the TV update.
The move is expected to give Apple an edge over its market rivals including, Netflix, Amazon.com, and Hulu.