The tech behemoth's Apple TV app and TV+ services were launched in November at $4.99 per month with nine original programs, marking the iPhone maker's entry into the crowded streaming TV market.
Apple declined to comment to a request by Reuters.
The conversations with MGM and the Pac-12 were preliminary and have yet to reach an advanced stage, the WSJ reported, citing people familiar with the matter.
A deal with the Pac-12 would be Apple's foray into live sports.
(Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)