Bloomberg reports that the companies plan to announce the agreement in the next couple of months. The source added that talks are still private.
It also revealed that the company is recruiting Hulu executive Pete Distad to head up future negotiations with the other major television networks.
Distad is currently senior vice president of marketing and distribution of the US TV streaming site.
According to his current biography on the website, he is responsible for “subscriber acquisition and retention, paid, on-channel, and brand marketing, distribution and promotions partnerships, and content marketing.”
However, later reports added that the company was struggling to convince other cable TV services to back its rumoured relaunch of Apple TV.
While much rumoured, few hard facts exist about what Apple has planned for its rumoured TV product.
Some analysts believe that it will simply be a relaunch of its existing hardware with Mavericks and iTunes Radio integration. Others believe Apple will launch a fully fledged TV set.