It used to be called the Orange Prize for fiction, but Orange announced a while ago that, due to its merger with T-Mobile, it won't be renewing sponsorship. Currently it's vaguely referred to as the women's Prize for Fiction. But if the rumours from the Telegraph are true, soon it might be the Apple (or iBooks, or iPad, or other product name) Prize for Fiction.
If I were Apple, I'd be tempted to call it the Mac Book Prize. But, eh, that's just because the writer's brain likes to play. Apple are much more likely to tout a more-firmly reading-related product.
To me, one of the most interesting things about this whole story isn't that Apple is interested in sponsorship (though that is interesting), it's that so many other companies are, too--eighteen, at last count. I don't know how much it costs to run a prize like this, but my guess would be somewhere around $500,000 a year. That's a significant chunk of change. Those eighteen corporations must understand the power of the book, the influence of story and the culture surrounding it.
That's a lovely way to start the week.