Apple Reportedly Suspends Effort To Develop Live TV Service

(RTTNews) - Apple Inc. (AAPL) has suspended plans to offer a live Internet-based television service and is instead focusing on being a platform for media companies to sell directly to customers through its App Store, according to reports.

While Apple isn't giving up entirely on releasing a live-TV service, its plan to sell a package of 14 or so channels for $30 to $40 pere month has run into resistance from media companies that want more money for their programming, the reports said citing people familiar with the matter.

CBS Corp. Chief Executive Officer Les Moonves reportedly said at a conference earlier Tuesday that Apple had put its live TV plans "on hold."

Moonves reportedly said he expects Apple to eventually offer a bundle of channels.

In the meantime, Apple is focused on the strategy that helped make the iPhone a breakout hit -- opening up its App Store for outside developers to sell to customers.

Amazon is weighing the creation of a live TV service, and plans to sell subscriptions to Showtime, Starz and other services. In addition, cable, satellite and phone providers like Comcast Corp., Dish Network Corp. and Verizon Communications Inc. are selling smaller, less expensive bundles of channels, sometimes delivered over the Internet.