Apple is preparing to launch a new version of its Apple TV set-top box and is in talks with Time Warner Cable to supply video content for the new platform, according to a report.

The updated hardware, slated to be on sale by the Christmas season, would feature a more powerful processor and an improved interface, according to a report that first appeared in Bloomberg.

A content deal with Time Warner Cable would be Apple's first with a pay-TV company, but not Time Warner's first appearance on an Internet streaming device or "over the top" (OTT). TWC television content can be accessed on Roku and Xbox 360.

The news backs up recent moves from Apple to boost the profile of its little black TV box, once called a "hobby" by Steve Jobs. The company recently gave Apple TV a dedicated spot on its website, which led 9to5Mac to speculate that big things were in store for Apple TV.

A Time Warner Cable rep declined to comment. Apple did not immediately respond to requests for comment.

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