Is there any content company not interested in dealing with Apple's (NASDAQ: AAPL) iTunes platform? According to Portfolio.com, media conglomerate Time Warner (NYSE: TWX) would like to see its HBO programming distributed on Apple's best-of-breed digital service. An announcement of a deal could be forthcoming very soon.

While some many question the move since HBO is a premium subscription service and could conceivably lose some of its allure, I think it is smart strategy. Digital distribution isn't going away, and HBO needs to be part of every platform, even iTunes. Plus, imagine the possibilities to really cash in here. What if the finale of The Sopranos had been sold on iTunes before it aired? Little experiments like this would not only be valuable in terms of testing contemporary theories about distribution paradigms in the 21st century, but they might also be profitable.

Perhaps the key element of this story is that it seems as if Time Warner was able to convince Apple that its content is worth more than the typical iTunes price point of $1.99. This is important because price elasticity will ultimately determine the overall value of a content library. Apple would, of course, like to charge the bare minimum to the users of its hardware, but where does that leave an HBO? No, HBO would be smart in starting as high as possible in terms of price and then adjusting after a full analysis.

I look forward to seeing this agreement announced, and if it is, I think HBO will not only make some money with Apple, but it will find that the pay-cable channel's brand equity will be boosted in the bargain. Some iTune users might actually be prompted to subscribe. HBO is known as a home for quality programs -- I loved the old Tales From the Crypt series -- and it may soon be known as an iTunes top seller.

Disclosure: I don't own shares in any company mentioned here; positions can change at any time.

The Hollywood Reporter had an article about NBC Universal, a unit of General Electric (NYSE: GE). It seems that the powers-that-be at NBC are bullish on cable television, to the degree that they believe it warrants its own structure. To that end, execs have decided to separate cable production from the broadcast network. NBC Universal Cable Studio, to be overseen by Bonnie Hammer (who now sports the title of president, cable entertainment and cable studio), will take care of content decisions at popular channels such as USA and the Sci Fi Channel (memo to Hammer: I am a huge fan of Doctor Who, don't ever cancel it).

A move like this might be understandable. The action on television these days definitely can be found on the cable outlets. How can you not like their model? The programming tends to be cheaper, there are reality shows everywhere, and content can be repeated to an ad nauseam degree a lot easier than it can be on a major network. Consider Viacom's (NYSE: VIA) MTV and VH1 -- if I miss that Celebrity Fit show on Thursdays, I have a good chance of catching it on some other evening. In fact, I'm sure we've all noticed that networks are starting to behave like cable outlets these days -- there's a good reason for it. Cable is important economic drivers for all media companies, including Disney (NYSE: DIS), News Corp. (NYSE: NWS), and Time Warner (NYSE: TWX). Plus, they are great incubators for ideas that can spread to other platforms.