The news: Hollywood's reigning aristocracy is in trouble.

For years, the movie studios and networks have been facing down mounting competition from digital distributors like Netflix and iTunes. But now they're in peril from a new source: the digital age's biggest kingpin, Apple. Earlier this month, Apple announced its intentions to purchase the digital rights to all new films and TV shows for $ million apiece. This means that, starting in , any movie or TV show released on digital platforms will be subject to the same terms and conditions as any other Apple product.

This could be a disaster for Hollywood.

For one, it means that movies and TV shows will no longer be subjected to the high overhead costs and restrictive licensing terms that studios and networks have long been able to impose on digital distributors. Second, Apple's purchase means that any movie or TV show released on digital platforms will be subject to the same terms and conditions as any other Apple product. This means that, for example, any movie or TV show released on iTunes will be subject to the same terms and conditions as any movie or TV show released on the Apple TV.

Apple's move could spell the end for the cable TV industry.

For years, Hollywood studios and networks have been able to charge cable TV providers exorbitant fees for the right to distribute their movies and TV shows. But now that Apple is in the business of distributing movies and TV shows, cable TV providers will no longer be able to charge these fees.

Apple's purchase also threatens the traditional advertising model for Hollywood.

For years, Hollywood studios and networks have been able to charge movie theaters and TV networks for the right to show their movies and TV shows. But now that Apple is in the business of distributing movies and TV shows, movie theaters and TV networks will no longer be able to charge these fees. In a word, Apple's purchase could be the death knell for the Hollywood aristocracy.