Apple Racing to Secure Deals for Video Service Ahead of March 25th Event [Report]

Apple Racing to Secure Deals for Video Service Ahead of March 25th Event [Report]

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Apple is racing to secure movie and TV show deals for its video service ahead of the company's March 25th special event, reports Bloomberg.

The company is racing to secure movies and TV shows to offer alongside its own original videos and is offering concessions to get deals done by a Friday deadline, according to people familiar with the matter. Pay-TV programmers such as HBO, Showtime and Starz have to decide whether Apple is an existential threat, as some now view Netflix, a potential partner or something in between.

The new video service will purportedly feature shows funded, bought, or developed by Apple; as well as, programming from other companies. Apple is in talks with HBO, CBS (Showtime), Starz, and others. It's likely that at least a couple deals will be reached by Friday.

Initially most of the content on Apple's video service will be from other media companies as many of its shows are still in development. The first slew of releases could come later this year.

Also rumored for the event is the unveiling of a new Apple News Magazines subscription service which has been in testing for months. Based on the Texture app acquired by Apple about a year ago, the service will allow users to subscribe to a bundle of magazines and newspapers.

While both services will be offered separately, there may be a discount for customers who subscribe to both.

Finally, Bloomberg reports that Apple may partner with Goldman Sachs on an iPhone-connected credit card. The endeavor, dubbed "Project Cookie", is being led by David Stark at Goldman Sachs. Around 30-40 of the company's employees are working on the project alongside the Apple Pay group.

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Apple Racing to Secure Deals for Video Service Ahead of March 25th Event [Report]

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