Bloomberg: Apple To Delay Live TV Service To 2016

(RTTNews) - Apple Inc. (AAPL) will delay its live television service which is delivered over the Internet to at least 2016, as talks to license programming from television networks owned by broadcasters such as CBS Corp. (CBS-A, CBS) and Twenty-First Century Fox Inc. (FOX, FOXA) are progressing slowly, Bloomberg reported Thursday, citing people familiar with Apple's plans.

According to the Bloomberg report, the main stumbling block is the price of content. Apple was aiming to introduce the live television service this year and price the service at $40 a month.

Further, Bloomberg reported that Apple lacks the computer network capacity required to ensure a good viewing experience.

Due to lack of enough content deals in place, Apple is said to have abandoned plans to announce the service at an event in San Francisco on September 9. However, Apple still reportedly plans to introduce a more powerful version of its Apple TV set-box at the event.

AAPL closed Thursday's regular trading at $115.15, down $0.09 or 0.08 percent on a volume of 48.54 million shares. In after-hours, the stock further declined $0.55 or 0.48 percent to $114.60.