In late May Engadget received word of an upcoming refresh to the Apple TV. The update would bring all new hardware, including an A4 processor, 16GB of storage, 1080p video playback, iOS, and a $99 price tag.

The new Apple TV was already starting to sound great but earlier this month The New York Times revealed that several sources have told them that Apple was building a completely redesigned user interface for the new Apple TV.

NewTeeVee has also heard rumblings of some changes to TV show pricing in iTunes.

Ryan Lawler reporting for NewTeeVee:

According to sources, Apple is trying to get TV programmers to let it rent individual TV shows for 99 cents each, as opposed to the $1.99 it receives for sales of standard-definition episodes and the $2.99 it gets for selling HD episodes. […] Unlike its current TV and movie sales through iTunes, the new service will move content into the cloud and stream it to users, rather than having them download videos.

I’m incredibly excited about this Apple TV update. I’ve been a huge fan of the device since it’s launch and it has been the centerpiece of my home theater for over two years now.

A $99 Apple TV running iOS, 99 cent TV show rentals, brand new user interface, and a focus on streaming content. If all of these rumors are true, I see a lot more people cutting the cord soon.