With Apple having Wednesday emailed invitations to reporters for a September 1-scheduled music-themed event, speculations are making rounds that the company will likely announce an updated lineup of iPod digital music players and, may be, even unveil a new Apple TV product.

The forthcoming event, which will be held at the Yerba Buena Center for the Arts, is well in line with the Apple tradition of holding a media event in September to update its iPod products and iTunes media store.

The invitation, which prominently features an aural guitar with an Apple logo-shaped sound hole, comes at a time when Apple is reportedly discussing deals with leading television companies – including Walt Disney’s ABC, General Electric’s NBC, and News Corp.’s Fox - for a 99-cent rental, via iTunes, for episodes of TV shows.

At present, Apple TV essentially makes a media hub that allows users to watch TV shows and movies on their TV sets. However, Apple is reportedly working on an updated device that will simplify streaming of media to a television.

Noting that revamped Apple TVs could hit the stores as early as this holiday season, or the 2011 first-half, a Kaufman Bros analyst Shaw Wu said that the upcoming device is “perhaps a precursor into a bigger effort to address the home entertainment space down the road.”