Hot on the heels of HBO's announcement that they've struck an exclusive deal with Apple for their new streaming service 'HBO Now', the Wall Street Journal reports that Apple is in the process of launching its own live television streaming service. Presumably aimed at younger viewers who are intent on cutting bloated cable packages from their budgets, Apple's new service will likely offer 25 core broadcast channels including those from ABC, CBS, and Fox, as well as other popular channels like ESPN and FX, and will cost between $30 and $40 per month. Notably (but not surprisingly) absent from Apple's negotiations for the licensing of streaming content is NBCUniversal and its parent company Comcast.

There is also speculation that Apple will simultaneously launch its own on-demand video service in hopes of competing with Netflix, Hulu, and Amazon for the streaming VOD market. With that said, it seems that Apple might have a difficult time licensing content because many providers have already signed over exclusive streaming rights to other VOD services. Given the success of Netflix's and Amazon's original content, it's entirely possible that Apple has intentions to use the new platform to launch its own original television content.

There's no definitive time frame as of yet for when Apple will officially announce and roll out the new service, but many are expecting it to be announced as early as June and launched as early as September.

Source: Wall Street Journal