Speculation was once again correct as Sony announced that a video download service will be available for the PS3. Users will be able to rent and purchase movies and TV shows directly from the PS3 from a variety of studios. Content will be available in both standard definition and high definition. TV show purchases start at $1.99. Movie rentals range from $2.99 to $5.99, and movie purchases range from $9.99 to $14.99. All downloads will be able to be transferred and played on Sony’s PSP handheld system, and will also be able to make use of the video out found on the newer PSP-2000. The service will be available tonight when Sony updates the PlayStation Store.