Bloomberg is reporting that Apple is in deep negotiations with News Corp. along with other major media outlets to allow for a $.99 per show TV rental service. The service’s launch will reportedly coincide with the release of a new iPod lineup on September 7th along with Apple’s long-rumored iTV device. The iTV is the Apple TV’s rumored successor that will come in an iPhone-like package (sans the screen), run Apple’s iOS, and will sport an App Store. The iTV will also supposedly launch at the key $99 pricepoint making it the perfect product for this rumored rental system.

The rental system will supposedly gives users 48 hours to watch their rented television program on any iOS device or iTunes enabled computer (Mac or Windows). Like Apple’s iTunes TV show service of today ($1.99 a piece), shows will be made available 24 hours after their initial TV debut. The other companies rumored to be in deep-discussions with Apple are ABC (Disney), NBC, and CBS. This rental service will be an awesome gateway for the rumored a la carte services coming to the iTV.

The Wall Street Journal adds that News Corp is actively considering Apple’s offerings, while CBS and and NBC are not so inclined to partner up with Apple’s rumored service. Jobs and Co. seem to have their ways and only time will tell how this all plays out.

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