Apple is reportedly in talks with an Oscar-nominated studio to get into the movie business (APPL)

Apple is close to agreeing a deal to buy the distribution rights to a movie from Irish animation studio Cartoon Saloon, Bloomberg reports.

Cartoon Saloon is based in Kilkenny, Ireland and has produced three Academy Award-nominated features: "Secret of Kells," "The Breadwinner," and "Song of the Sea." It also produces the children's TV series "Puffin Rock," narrated by "Bridesmaids" star Chris O'Dowd.

Citing anonymous sources, Bloomberg said a deal is being negotiated between Apple and Cartoon Saloon for the rights to an unnamed movie, which is more than a year from release.

One of the sources said a theatrical release would be possible, and noted that other potential movies are also in the works.

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While the deal is not yet closed, it is another signal of Apple's video ambitions. The company already makes shows like "Carpool Karaoke," and has a crop of original shows planned.

Business Insider has contacted Apple and Cartoon Saloon for comment.