Apple Puts Live TV Service on Hold

If you were one of those that was looking forward to a live streaming TV service from Apple, we have some bad news for you.

It appears that the media companies are asking for too much money for Apple to make the service viable and now the company has suspended plans to offer a live Internet-based television service.

Bloomberg says that Apple 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.

While Apple isn’t giving up entirely on releasing a live-TV service, its plan to sell a package of 14 or so channels for $30 to $40 a month has run into resistance from media companies that want more money for their programming, said the person, who asked not to be named discussing a prospective product.

Color me sad. ;-(