The rumors of an upcoming iTunes TV show rental service from Apple are in full swing, and we’re hearing more and more juicy details each day. First we heard that TV show rentals would be $1 per show and good for a 24 hour watching period. This is the same as Apple’s current movie rental service but for television programs at a cheaper price instead. Just the other day we heard that Apple’s in deep negotiations with News Corp., NBC, and ABC in regards to the rumored service.

Today, Cult of Mac’s taking a swing into the action reporting on a tip they believe has merit. The report agrees with the 1$ per show service, but takes the concept even further. This rumored 1$ per show concept supposedly means $1 per show per month. To simplify this, imagine your favorite show. Lets say your show has had 50 episodes so far in its life time. For $1 a month you will have access to the entire 50 show library as well as all new additional shows airing during that month.

Furthermore, to gain access to the entire show library for an entire year it would cost you $12. Looking down the line if you signed up for 10 individual shows, it would cost you $120 to access the complete show libraries for an entire year. This seems sort of sketchy and we are definitely taking this lightly. Let us know what you think in the comments.

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