99 Cent TV Show Rentals To Piggyback New Apple TV?

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NewTeeVee has apparently been tipped off by “sources” that Apple will not only release a new Apple TV but that streaming TV show rentals are also on the way. Apple’s waning interest in one of its own products that Steve Jobs calls a “hobby” for the company could be turning itself around to compete with Hulu and Netflix.

(More on Techland: Apple Working on Cloud Based AppleTV With $99 Price Tag?)

The TV show rental model would be the same as the movie rental model wherein consumers have 30 days to watch a show and 24 hours to view said rental once it’s started. The most intriguing part of this rumor is that Apple will move content to the cloud rather than forcing consumers to download content to their Apple TV. Earlier rumors suggest the revamped Apple TV will run on iOS, which may or may not matter in terms of TV show rentals.

It’s unsubstantiated rumor but it’s piqued enough interest that it I’m wondering if this has anything to do with Lala. Who says Lala has to be strictly music?