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Failed Experiment: Apple Pulls TV Rentals from iTunes

Movies will continue to be available for rent, with TV series solely available for purchase

"Modern Family" fans will no longer have the option to rent or buy — at least when it comes to iTunes.

On Friday, Apple dropped the TV rental service from its popular online store.

The company unveiled the 99-cent service last October for a six-month trial, using only ABC and Fox programming. The trial period lasted a bit longer than expected, an individual with knowledge of the deal told TheWrap.

"After carefully considering the results of the rental trial, it became clear that content ownership is a more attractive long-term value proposition both for iTunes customers and for our business,” Fox said in a statement. “To further enhance the value of ownership, we are working with Apple to make content available within their new cloud-based service."

Movies will continue to be available for rent as well as purchase.