Apple CEO Tim Cook is interviewed by NBC News anchor Brian Williams tonight, and in a preview clip, he hints that Apple has something brewing in the TV space.

“When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years,” Cook told Williams. “It’s an area of intense interest. I can’t say more than that.”

As it happens, on Tuesday of this week, Les Moonves, the CEO of CBS, said that he met with Cook a few weeks ago, though he wouldn’t say about what. Last week, Time Warner CEO Jeff Bewkes insinuated that he also met with Cook recently. Apple is clearly working on a TV product, but given the current state of TV sets and cable boxes, what would make it different?

The two keys are software and content.

An Apple TV set will undoubtedly feature the software that the Apple TV product currently has. It makes it easy to watch videos from Netflix and iTunes on your existing TV set. That said, at this moment in time, Apple needs to give customers access to the shows that want to watch in order to have a succesful product, that is the content side of the equation.

There are two ways to do this: partner with a cable or satellite company, or partner with the content companies themselves.

Read more