Youtube to stream New Release Movies on a Rental Basis

Google is reportedly preparing a movie rental service for YouTube, the Wall Street Journal reports.

YouTube is talking to Lions Gate Entertainment Corp., Sony Corp., Metro-Goldwyn-Mayer Inc. and Time Warner Inc.’s Warner Bros. about charging for new titles on the existing YouTube site.

Rentals will likely cost $3.99 per film, with studios getting a 70% cut. YouTube will host the titles on the same day as their DVD releases.

Another move towards media supremacy..  

I love it.