Ryan Lawler at GigaOM:

Apple had long been rumored to be working on a subscription streaming service that would aggregate content from multiple TV networks and compete against more traditional cable and satellite services. That product ended up never coming to market, as Apple was apparently unable to convince enough content providers to join. But no one had publicly confirmed that such an offering was actually in the works until today.

I would definitely pay for this service from Apple. I hope they can convince the networks to take the leap.