President and CEO of CBS, Les Moonves, says that Apple has put its TV streaming service on hold. Moonves made the comment on stage at Business Insider's Ignition Conference in New York, saying "They've had conversations on it, and I think they pressed the hold button." Prior to Apple's pause, Moonves says that CBS and the tech giant were close to reaching a price point for potential bundles. From Business Insider:

Today, Moonves said that Apple and CBS were close to settling on a price point of between $30 and $40 per month for these bundles — Moonves specifically mentioned the price point of $35 multiple times — before Apple decided to pause and reconsider.

Apple was originally expected to reveal a streaming TV service with around 25 channels alongside the launch of the new Apple TV, but such a service has yet to materialize. The latest rumors point to a potential 2016 launch for the service, and Moonves still seems confident that Apple will launch said service in the near future, telling Business Insider "This will happen" and "People will not be spending money on channels they don't want to watch."

Update: Bloomberg has now offered some clarification on the situation. Citing unnamed sources, the publication says that Apple has run into issues with reaching deals with networks, and the company will instead focus on using the App Store as a platform for companies to reach customers directly. From Bloomberg:

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.

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.

Source: Business Insider