Bloomberg reports that Apple is in the process of negotiating deals with News Corp. to give iTunes users 99-cent rentals of TV shows. They are said to be in similar talks with other such companies, according to three people who are familiar with the matter.
If the deal pans out as the reports say, iTunes will allow for users to rent shows for 48 hours for 99 cents. News Corp's Fox, Disney (Jobs is also a board member and the largest shareholder at the Walt Disney Company), and CBS are all said to be in discussions with Apple.
Currently, TV shows can only be purchased on iTunes, and for a price of $1.99. This may be ok for some, but many users may watch a show once and never view it again. Pile on several seasons of more than one show, and your hard drive can fill fast.
This may also be part of Apple's plan to push iTV, which is rumored to be the next iteration of Apple TV. The move could also help offset some of the chunk taken by companies such as Netflix, who stream content at a set monthly rate. The TV shows would be available 24-hours after their original air date, long before they become viewable on Netflix.