Apple Inc and News Corp.'s Twentieth Century Fox reportedly plan to make public a deal that will make it possible for clients to rent movies through Apple's digital iTunes Store.

Through this new agreement Fox’s latest DVD releases will be rented after downloading a copy from the online iTunes store for a limited time, the Financial Times said. The Wall Street Journal also reported the agreement between the two giants in its online edition.

Officials of the two companies weren’t reached for comment.

Video sales have slowed down lately as the music downloads on iTunes grew constantly in popularity. Media companies have wanted more flexibility from Apple in pricing policies.

During the last period, Apple tried to close an iTunes rental deal with Hollywood studios and Fox is the first studio to agree with them, Financial Times reported today.

"Fox and potentially other studios are coming around to the idea that there is nobody out there to challenge iTunes," said Jonathan Weitz, from IBB Consulting, for FT.

The Cupertino, California-based company is also reportedly in talks to offer films to rent or buy from Sony Pictures, Paramount and Warner Bros at its iTunes store.

This could be just the app needed to kick-start Apple TV sales.

In afternoon trading yesterday, Apple's shares reached $200 for the first time, before falling back to $198.95 by market close.