Apple To Reboot Steven Spielberg's Amazing Stories For Online Streaming

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The iPhone maker is bringing back Spielberg's 30-year-old anthology series "Amazing Stories" in its attempt to build an online video subscription service to challenge the digital networks operated by Netflix, Amazon, Hulu and HBO.

The tech giant is on the verge of finalising a deal with Spielberg's prodco Amblin Television to revive the director's 1980s anthology series, according to USA reports. The drama ran for two series on the United States network NBC in the mid-1980s, with minimal ratings success, but will now be revived for the on-demand era.

Each episode will sport a sumly $5 million dollar budget, suggesting the eps will be as epic as most of those in the original run.

The series aired on NBC from 1985 to 1987 and won five Emmy awards for its mixture of science fiction and horror episodes, although the series was never a big hit in the ratings.

After years of selling other companies' TV shows and movies in its iTunes store, Apple has taken the plunge into Hollywood and begun competing with those same companies for the rights to produce future TV series.

Amazing Stories would be the first original series Apple has agreed to finance since the world's most valuable technology company hired two Sony executives to shepherd its nascent efforts in TV production. There was also a reality show known as "Planet of the Apps" which was tech-themed.

Director Steven Spielberg speaks onstage during American Film Institutes 44th Life Achievement Award Gala Tribute show to John Williams at Dolby Theatre on June 9, 2016 in Hollywood, California. It is hoped that bagging a series that was co-created by Stephen Spielberg will see Apple moving in that direction.

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