Apple's Jobs says iTunes to rent movies over Web

SAN FRANCISCO Tue Jan 15, 2008 1:37pm EST

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SAN FRANCISCO (Reuters) - Apple Inc (AAPL.O) Chief Executive Steve Jobs unveiled online movie rentals on Tuesday, beefing up the video offerings in its iTunes service in the face of increased competition.

Jobs said that every major movie studio supported the rentals, which would launch with more than 1,000 films in February. Rentals would cost $2.99 and $3.99, he said.

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(Reporting by Scott Hillis and Duncan Martell; Editing by Andre Grenon)