Apple TV Service Won't Be Announced At WWDC Next Week: Report

Apple's rumored TV service is not ready for WWDC next week, according to a new report. Apple's annual Worldwide Developer Conference will kick off next week.

According to Re/code, the official announcement of the highly anticipated Apple TV service is has been pushed back because licensing deals for local programming have not been finalized (yet).

"The Cupertino technology company has told network executives the planned unveiling will be postponed because Apple has yet to finalize the licensing deals. Industry executives predict Apple's Web TV offering may not launch until later this year, or in 2016. Technology and money issues remain sticking points," Re/code noted.

Despite delay, TV executives are looking forward partnering with Apple. "Apple TV is trying to change the universe," CBS CEO Les Moonves told the audience at the Code Conference.

Apple is adamant on offering local programming to differentiate its service from competitors like Dish and Sony. For airing local programming via the web, broadcasters require new technology and this is the reason Dish and Sony don't offer it.

Apple is also facing another legal holdup with its music streaming service. The Wall Street Journal reported that the company has not yet finalized deals with three major record labels.