Apple is now offering Warner Bros.' television content through its popular iTunes store. Television shows like "Friends," "Babylon 5," "The Jetsons" and the never before seen pilot episode of "Aquaman" are now available. (Calls to agent Ari Gold were not returned.)

Apple has already sold 35 million videos through its iTunes storefront, which clearly puts it in the leadership position. A few months back, Steve Jobs sold Pixar to Disney and is now the largest single shareholder. Apple already has deals with Disney offering episodes of "Lost," "Desperate Housewives" and other prime-time television content.

Microsoft's Zune is about to launch with an enormous marketing effort. MS has also been aggressive in gathering first-run content. Apple is continuing to push studio and record music content from Warner and others. Interestingly, Warner was co-helmed by Terry Semel, who is now the CEO of Yahoo!. Given Mr. Semel's studio relationships and the macro environment, we expect Yahoo! to start announcing more deals as well.