RIVALS SET TO TAKE ON NETFLIX

Netflix chairman Reid Hastings has repeatedly warned investors that his online video subscription service could face competition one day from a rival performing the identical function. And, according to a report by the Wall Street Journal, Internet giant Amazon.com Inc. is planning to do just that — although it will limit its movie rentals to older movies and TV shows and distribute them exclusively online, not through the mail. Bloomberg News said today (Wednesday) that Amazon has had talks with Time Warner, Viacom, and NBC Universal about including their movies and TV shows in the service. Meanwhile, Apple, as expected, announced its own similar streaming service as it unveiled a new $99 version of its Apple TV settop box at a news conference in Cupertino, CA this morning. Apple Chairman Steve Jobs said that the company had struck deals with ABC, Fox, Disney Channel and BBC America that will make their shows available for download for 99 cents via the Apple TV device. “This tiny, silent box costing just $99 lets users watch thousands of HD movies and TV shows, and makes all of their music, photos, and videos effortlessly available on their home entertainment system,” he said.