Apple had long been rumored to be working on a subscription streaming service that would aggregate content from multiple TV networks and compete against more traditional cable and satellite services. That product ended up never coming to market, as Apple was apparently unable to convince enough content providers to join. But no one had publicly confirmed that such an offering was actually in the works until today.
CBS prefers guaranteed money deals and says it's receiving "hundreds of millions of dollars" from streaming providers like Netflix, Amazon and Hulu, with potentially more deals in the works.
Read More [via Dean]