New York - Apple is in discussions with Hollywood movies studios on making films available to rent over the Internet via its iTunes Store, the Financial Times reported.

The service would rent films for $2.99 for a 30-day period, and allow them to be transferred to portable devices like the video iPod.

The Wall Street Journal reports that the service is "far from a certainty," with Viacom's Paramount Pictures supporting the idea and Universal Studios currently opposed.

Apple already offers over 500 movies and 350 TV shows for sale from its iTunes Store, and has thus far sold over 2 million films.

An Apple rental service would compete with existing online movie rental offerings from Amazon.com, Movielink and CinemaNow.

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