Leslie Moonves Talks Apple TV, Ad-Free Version of CBS All Access

9 Dec 2015 | Author: | No comments yet »

Apple said to suspend effort to develop Live TV service.

China plans to introduce a round of subsidies for auto purchases by rural residents that will cover passenger vehicles with engines smaller than 1.6 liters, according to people familiar with the matter.San Francisco/Los Angeles: Apple Inc. has suspended plans to offer a live Internet-based television service and is instead focusing on being a platform for media companies to sell directly to customers through its App Store, according to a person with knowledge of the matter. The planned subsidies will also cover mini-commercial vehicles and light pickup trucks, said the people, who asked not to be named discussing information that’s private.

The news service adds Apple isn’t completely giving up on providing a live TV service, but notes its original plan to sell 14 or so channels for $30-$40/month has “run into resistance from media companies that want more money for their programming.” Media execs have said they expect Apple and other new entrants pay more per channel than pay-TV incumbents. CBS Corp. chief executive officer Les Moonves said at an industry conference earlier Tuesday that Apple had put its live TV plans “on hold.” While he expects the company to eventually release a service, Moonves said Apple had run into problems striking deals. China last introduced a nationwide subsidy program for rural auto purchases in 2009 in the depths of the global financial crisis to help prop up economic growth. People will not be spending money on channels they don’t want to watch.” In August, Bloomberg reported Apple was looking to launch a TV service selling for ~$40/month in 2016, after previously aiming for a 2015 launch.

The rural subsidies, together with a cash-for-clunkers program, helped propel the nation past the U.S. to become the largest market in the world for new vehicle sales. To break the logjam, Apple would either have to charge more, or the media companies would have to accept less. “This will happen,” Moonves said of Apple. “It has four major networks and 10 cable networks, let’s say, and the price point will be in the $30s, $30 to $35, $40 maybe. The new incentives would come after the government slashed a purchase tax on small passenger vehicles in October, which helped boost industrywide sales by 18 percent last month, led by sport utility vehicles and minivans. “There has been a shift away from minibuses to domestic SUVs and MPVs which a new subsidy would likely underpin,” said Janet Lewis, a Hong Kong-based analyst at Macquarie Group Ltd. “It would likely benefit domestic automakers more than international brands.” Shares of Chinese automakers surged, led by Geely Automobile Holdings Ltd., which gained as much as 8.3 percent in Hong Kong trading.

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