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August 15, 2013

Apple Buys, Fueling iTV Rumors

The Apple rumor mill is grinding again with the Cupertino company’s million-dollar purchase of iOS TV and video app, a service that shut down in May, amassed video content listings from providers such as Comcast, Netflix, Hulu, Amazon and iTunes.

Users of the app were also able to receive video recommendations, manage their viewing from a universal line up and link to social networks to share viewing and see what their friends watch — a service that would no doubt complement Apple’s rumored iTV.

While the company has yet to confirm it is working on any such product, CEO Tim Cook’s comments during a December 2012 interview with NBC hinted that an iTV will make an appearance in the future.

“When I go into my living room and turn on the TV, I feel like I have gone backward in time by 20 to 30 years,” Cook told NBC. “It’s an area of intense interest. I can’t say more than that.”

Apple has declined to offer details of the purchase that is rumored to have cost the company between $1 million to $1.5 million, but did offer a vague comment to VentureBeat: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

The comment is a pat answer the iPhone maker offers up each time it is questioned about a new acquisition.

According to VentureBeat, the purchase price could have been even higher than $1.5 million. A source told the publication the purchase price being reported “is definitely incorrect” but declined to divulge the correct figure.