Time Warner CEO 'pretty confident' Apple subscription TV service in development

"It's no surprise to anyone that Apple would be interested in launching a TV product," Bewkes added according to CNet.

Time Warner is the parent company of TV network HBO, and recently partnered with Apple to launch HBO Now as a three-month exclusive for iOS and Apple TV devices. During the results call, HBO head Richard Plepler reportedly said he "couldn't be more pleased" with the arrangement.

"We got out of the gate very fast with Apple," he remarked. "We see a lot of momentum there."

Apple and Time Warner have collaborated in the past, and at one point were rumored to be working on an interface that would allow an Apple TV to replace a cable box. That arrangement may have been nixed by Comcast's proposed takeover of Time Warner Cable, which was officially abandoned on April 24.

Apple is strongly rumored to be preparing a streaming TV service for launch later this year. During an Apple earnings call on Monday, CEO Tim Cook fueled these rumors by claiming that "major, major changes in media" are coming, in which Apple could play a part.

Past reports have indicated that Apple is working on a "skinny" channel bundle that should cost between $30 and $40 a month. It's expected to launch this fall, and may be announced at the company's Worldwide Developers Conference on June 8 alongside a new Apple TV set-top.