Apple said to be near deal with Time Warner Cable
The agreement would give subscribers of the cable service access to channels using Apple TV.
According to Bloomberg News, the companies plan to announce a deal within a few months.
Time Warner Cable and Apple did not immediately respond to requests for comment.
The consumer tech giant is also hiring Pete Distad from online video provider Hulu, the report said. Distad was senior vice president in charge of marketing and distribution. At Apple, he will help executives in negotiations with media and cable companies.
A deal with Time Warner Cable would be Apple's first agreement with a cable company. Apple has already agreed to content deals with Time Warner's (TWX) HBO and Walt Disney's (DIS) ESPN, as the company aims to better compete with Roku's set-top boxes and Microsoft's (MSFT) Xbox. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
Time Warner Cable, the second-largest U.S. cable provider, has come to similar agreements with Roku, Xbox and Samsung. It also offers a mobile application called TWC TV for the iPhone, iPad and devices using Google's (GOOG) Android operating system.
Unlike Intel (INTC), Apple appears to be working with television service providers to bring content to Apple TV. Intel, however, is negotiating with media companies to build an Internet-based service that would offer live television programming and more directly compete with cable and satellite companies.
Shares of Apple were up almost 1% in midday trading. Time Warner Cable was trading 2% higher.
More from Fox Business
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.