With rumors abound for an upcoming Apple TV replacement and new TV show pricing, it appears that we only have to wait until September 7th to find out the answers.

Bloomberg.com is reporting that Apple’s next major event will be held on September 7th. While Apple always refreshes their iPod lines in September, rumors have been circulating that Apple will also announce an update to their TV offerings at the same event. The AppleTV has never had the great success that other recent Apple products have been, and many blame the pricing and complex nature of the device.

The rumors are that the updated device will be rebranded as the iTV and will only cost $99. It is also rumored to run iOS, giving users a familiar interface and access to thousands of existing apps. Existing apps should display well on modern HDTV’s given that the iPhone 4 and iPad screens have resolutions close to that of a 720p TV. The iTV is also rumored to focus on streaming, instead of downloaded, content. This caused many to hope for a change to subscription-based pricing which would allow you to buy a tier of service for a monthly fee. Unfortunately, Bloomberg.com and other sites are reporting that instead of subscription-based pricing, Apple will offer TV episodes for $0.99 in a rental format.

At that price, popular series like Comedy Central’s “The Daily Show” would cost a regular viewer around $200 a year, making iTV an expensive alternative to cable and satellite. However, that pricing does give the opportunity for people to watch shows that they missed or do not receive in their home. What we do not know is if Apple will offer a bulk pricing for renting an entire season of a series. If they did it could make the rental pricing structure more appealing.

If the rumored date is true, make sure and join AppAdvice.com on September 7th for complete event coverage. In the meantime, let us know what you expect to see and what you want to see from Apple’s TV offerings in the comments box below.