Apple Plans to Rent TV Shows for 99 Cents

If Apple has its way, consumers will be able to rent TV shows instead of buying them on digital delivery services.

The company is in advanced negotiations with News Corporation, parent of the Fox network, and the Walt Disney Company, parent of ABC, to make the networks' shows available to rent for 99 cents each via iTunes, according to Bloomberg News. CBS, NBC Universal, parent of the NBC network, and Time Warner, parent of the TNT and TBS cable channels, were lukewarm about the the idea but had not ruled out participating in the plan.

Currently, consumers can buy TV shows on iTunes for $1.99 and $2.99 an episode. The thinking is that the service will enhance the company's Apple TV and iPad products. As for the networks, they've historically been concerned about low rental prices biting into sales of DVDs and episodes on iTunes and Amazon.com.

The move by Apple is seen as a maneuver to fend off rivals such as Netflix and Hulu in the TV distribution business. The content would be available online within 24 hours after airing and would be available to renters for 48 hours after purchase. It's not clear if commercials will be included in the deal or not.

Apple plans to have a big roll-out event in San Francisco on Sept. 7, although it has not been announced what product or products will be featured.