Failed experiment: Apple pulls TV rentals from iTunes (Reuters)

LOS ANGELES (TheWrap.com) ? "Modern Family" fans will no longer have the option to rent or buy -- at least when it comes to iTunes.

On Friday, Apple dropped the TV rental service from its popular online store.

The company unveiled the 99-cent service last October for a six-month trial, using only ABC and Fox programing. The trial period lasted a bit longer than expected, an individual with knowledge of the deal told TheWrap.

"After carefully considering the results of the rental trial, it became clear that content ownership is a more attractive long-term value proposition both for iTunes customers and for our business," Fox said in a statement. "To further enhance the value of ownership, we are working with Apple to make content available within their new cloud-based service."

Movies will continue to be available for rent as well as purchase.

Source: http://us.rd.yahoo.com/dailynews/rss/internet/*http%3A//news.yahoo.com/s/nm/20110826/media_nm/us_apple_tv_rental

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