Apple's Jobs says iTunes to rent movies over Web

SAN FRANCISCO (Reuters) - Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) 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.

(For more tech news see the Reuters Mediafile blog at blogs.reuters.com/mediafile)

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