Apple's big plan to kill cable is reportedly being delayed

Apple's much-rumored streaming TV service is reportedly being pushed back until 2016, according to Bloomberg News.

The publication is reporting that Apple is on track to unveil a new Apple TV set-top box at an event on Sept. 9.

Bloomberg's sources cite two reasons for the delay: the talks to license content from broadcasters such as Fox and CBS are progressing slowly, and Apple doesn't have the network capacity to "ensure a good viewing experience."

The talks are progressing slowly because it's struggling with the price of the content it wants to offer.

Apple reportedly wants to offer a bundle of channels for just $40, so it's going to have to negotiate with TV networks.

The report comes just after Piper Jaffray issued a note expressing skepticism that Apple would announce the service this fall as it has originally planned.

Apple's streaming service is expected to be a slimmed-down version bundle of channels that would include local TV stations as well. Apple was said to be in negotiations with broadcasters in July, as The New York Post reported.