In a well coordinated leak, both the LA Times and WSJ are reporting Apple is currently in talks with Hollywood movie studios to secure rights to store and potentially stream content with iCloud as early as late 2011 or early next year.

“Representatives of the iPhone and iPad maker have been meeting with studios to finalize deals that would allow consumers to buy movies through iTunes and access them on any Apple device, according to knowledgeable people who requested anonymity because the discussions are private. The service is expected to launch in late 2011 or early 2012.”

The LA Times’ report even mentions the possibility of Apple opening up content from the studio-backed Ultraviolet streaming service to iOS apps. Perhaps a trade-off that allowed them to secure deals for iCloud?

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We heard reports as far back as May that Apple was in discussions with movie studios and it looks like a reported year worth of negotiations will soon pay off.

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