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What if the Apple television is an iMac?

“Here’s a novel theory: The Internet-connected HDTV Apple is rumored to have in the pipeline will be preceded by another device that will pave the way for it,” John Paczkowski reports for AllThingsD.

“A new iMac with integrated TV functionality,” Paczkowski reports. “That’s the latest speculation from Wedge Partners’s Brian Blair, who believes there will be a step between the Apple TV and the Apple Television.”

Paczkowski reports, “‘We believe Apple’s redesign of the iMac in the first half of 2012 will likely usher in some … TV capability into the iMac offering first, effectively taking the high end and larger screens of the iMac line and pushing it toward the TV market by integrating Apple TV and iCloud features into a slimmer all-in-one PC,’ Blair writes. ‘Apple could effectively start with what they already have on the manufacturing line and slowly push their offering from 27 inches and scale up from there to 32 inches and then move on to the 42, 50 and 55 inch market.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “JES42” for the heads up.]

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