During a financial earnings conference call last August 17, Lions Gate Films' executives revealed that they have reached an agreement with Apple to launch Apple's movies online.

In addition to Lions Gate, Apple has also reportedly tied up with other major movie studios - Walt Disney, Universal Studios, Paramount Pictures, and Warner Bros. for its iTunes movie rental service. Although Apple has reportedly been trying to work on their movie features, the current movie distribution model allows for movie rentals only.

No one knows yet when Apple will launch their movie rental service except for Steve Beeks, Lions Gate's president, who also would not disclose the information to the press. All we know is that Apple's movie rental service is due for launching later this year. Guess we'll just have to wait and see how things work out.