DVD Killer: Apple Inks Key Deals for iTunes Movies

Apple announced today that it has reached agreement with the major Hollywood studios to offer movies for purchase on iTunes the same day that they're released on DVD, a major coup that has the potential to transform the movie industry akin to how iTunes revolutionized the music business. Reuters reports that new releases will be available for $14.99 and library titles will go for $9.99. Movie rentals for new releases are still $3.99 but those will continue to be available about 30 days after they go on sale.