The Hollywood Reporter suggests that Apple is imminently to announce that it has struck a deal with a "wide array" of movie studios to sell brand new movie releases via iTunes.

This would mean Apple would compete "day-and-date" with home video releases which would mean some major competition for the traditional DVD rental, and DVD sales markets.

Warner Bros has officially confirmed this week it will trial video-on-demand releases head to head with DVD.

Other studios expected to be involved are Fox, Walt Disney Studios, Paramount, Universal, Sony Pictures, Lionsgate and New Line.

>> UPDATE: This is now official! - Apple announces same-day iTunes movies
>> Via - Reuters
>> And - Engadget