Apple (NSDQ: AAPL) has come out swinging after reports last night that NBC has told the company it won’t renew the TV downloads contract beyond December: Apple said in a release that “Apple declined to pay more than double the wholesale price for each NBC TV episode, which would have resulted in the retail price to consumers increasing to $4.99 per episode from the current $1.99. ABC, CBS, FOX and The CW, along with more than 50 cable networks, are signed up to sell TV shows from their upcoming season on iTunes at $1.99 per episode.”

Also, Apple has decided not to offer NBC TV shows for the upcoming Fall TV season beginning in September. NBC supplied iTunes with three of its 10 best selling TV shows last season, accounting for 30 percent of iTunes TV show sales, the company said.

But left a small window open: “We hope they will change their minds and offer their TV shows to the tens of millions of iTunes customers,” said Eddy Cue, Apple’s VP of iTunes.

More on this to come from other sources we’re speaking to now.