Apple looking to add streaming media service

Apple is reportedly in talks with a film distribution company for a deal which could allow the company to stream films for its devices.

Reuters cited company sources in reporting that Apple was in talks with EPIX, a film distribution firm backed by studios Paramount Pictures, Lion's Gate and MGM.

According to the report, the talks are aimed at securing films for a mobile streaming service for use with Apple media platforms, including the Apple TV device and a possible Apple-branded television.

Previous reports have suggested that Apple has been working to develop its own brand of television sets, with release dates said to be targeted at late 2012 or the early months of 2013.

Apple has yet to provide any comment or confirmation on the matter.

Despite its iconic Mac computer line and top-selling iOS devices, Apple has yet to make a serious play in the living room. The company's AppleTV set-top box has yet to generate strong sales and the company has described the line as a 'hobby' project.

The reports come as Apple finds itself in the midst of its best ever financial run.

The company last week announced a record financial quarter which included an $11.6bn profit with 35.1 million iPhones and 11.8 million iPads sold.

The company could, however, be facing a more uncertain future. Industry analysts have predicted that the company could see its business sag as it struggles to replace the leadership and charisma of the late Steve Jobs.