Through its planned subscription service Apple could offer TV shows from major networks for a monthly fee according to the Wall Street Journal.
The company is rumoured to be planning to complete licensing deals and introduce the subscription service in 2010.
The online TV venture is part of Apple’s plan to overhaul its iTunes music download store.
It already offers a selection of movies and games to download via the store.
Apple has seen a surge in profit as sales for its iPhones and computers reached a quarterly high in its latest results. The technology company has recorded a net profit rise of 47% to $1.67bn (£1bn) in the three months to 26 September, compared to the corresponding 2008 period. Sales also rose 25% to $9.87bn (£6bn).