Apple Inc. (NASDAQ:AAPL)’s rumored web television service may be a sign that the market itself is unbundling cable, Andrew Ross Sorkin and his colleagues venture in a discussion on CNBC.
The reaction was prompted after reports on Monday suggested that Apple Inc. (NASDAQ:AAPL) may be in talks with television networks to offer a streamlined web TV service. According to The Wall Street Journal, the iPhone maker may debut the service this coming fall.
Sorkin told his colleagues Rebecca Quick and Joe Kernen that he is wondering whether the new service rumored as being planned by the iPhone maker is a sign that the true unbundling of the massive cable packages in the U.S. is beginning.
Quick said that she has thought that it would be Congress that would ultimately unbundle the cable packages in the country. Kernen, on the other hand, said that this has been going on for a while with the iPhone maker talking to Comcast Corporation (NASDAQ:CMCSA) in the past. However, technology giant found out that Comcast was building their own web TV service.
Kernen also raised a good question as to whether people will settle for not getting any NBC assets should Comcast channels not be included in the package the iPhone maker is mulling implying that subscribers will not be getting a sort of complete essential package with the new TV service.
According to Sorkin, Apple Inc. (NASDAQ:AAPL) is planning to offer the service for $30 to $40 and will include channels such as ESPN.
Sorkin noted that The Wall Street Journal is reporting that the networks ABC, CBS and Fox are in talks with Apple Inc. (NASDAQ:AAPL) for possible channels to be included in the web TV service. The publication said that about 25 channels are being planned for the streamlined TV service. Sorkin said that channels owned by Comcast, which includes CNBC, are not being as of the moment to be included in the service.
Leon Cooperman’s Omega Advisors significantly reduced its stake in Apple Inc. (NASDAQ:AAPL) by the end of 2014. The firm held 383,790 shares of the iPhone maker by the end of the fourth quarter of 2014, down 68% quarter over quarter.
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