The Wall Street Journal reports that Apple and Disney are close to inking a deal that will see Disney-produced TV shows available for rent on iTunes for $.99. The rental period would be 48 hours. Apple CEO Steve Jobs championed the deal. He has a seat on the Disney board and is the company's largest shareholder.

Apple has presented the same deal to other studios as well. News Corp. and CBS Corp. are evaluating the proposal, but the paper states that CBS is more likely to balk. NBC and Viacom have already ruled it out.

Content providers are affair of jeopardizing the carriage fees they receive from TV outlets. Apple believes the lower price point will earn them more money via volume.