Time Warner CEO Slams Apple TV 99c Rentals

Time Warner has joined the NBC Group in opposing the 99 cents rental scheme proposed by Apple for its new Apple TV service.

Speaking at an event in London, Time Warner CEO Jeff Bewkes said that the 99 cent rental scheme jeopardises the sales of the shows as a series to TV networks that pay millions of dollars to air the shows for free.

“How can you justify renting your first-run TV shows individually for 99 cents an episode and thereby jeopardise the sale of the same shows as a series to branded networks that pay hundreds of millions of dollars,” he said.

The CEO also added that Apple needed to offer more to TV production houses and provide a competitive platform for the shows. NBC has claimed that Apple's plan "devalues" the media content it offers.

His opinion is not shared by Fox and ABC, who have shown great enthusiasm for the highly anticipated Apple TV service, that will allow users to stream media and rent shows and movies on demand.

Speaking about Time Warner's merger with ailing internet giant AOL, Bewkes acknowledged it as "the biggest mistake in corporate history".