We've all heard the iTunes movie rental rumors. Confirmed, in fact.
Now Apple and FOX have also penned a deal which will allow consumers to rip FOX DVDs they purchase directly into and from iTunes. Apparently, the DVDs will include an iPhone/iPod formatted version of the movie directly on the disc, which iTunes will import.
Previously, movies could only be imported into iTunes by purchasing them from the iTunes store, or using 3rd party software to rip the DVD, convert it, and import into iTunes.
Financial Times (free registration required) via Valleywag