Apple TV: $99 Device; $4.99 First-Run Movies; 99-Cent TV

Jobs demos Apple TV, showing clips from "Glee."

And here it is … the pocket-rocket version of Apple TV with $4.99 first-run movies and $0.99 TV shows. The main content events: as expected, ABC (NYSE: DIS), Fox and Netflix (NSDQ: NFLX). And, as expected, it’s a heck of a lot cheaper: a much more competitive $99, down from the original $299 and the current $229. CEO Steve Jobs promises availability in four weeks; pre-orders start today. One surprise: it’s all rental, no purchases. It’s also a conduit, not a storage device.

Apple (NSDQ: AAPL) CEO Steve Jobs says the emphasis on a sleeker device at a much lower price with inexpensive “Hollywood” content is the result of user feedback over the four years since Apple TV debuted. “They want Hollywood movies and TV shows whenever they want them. They want Hollywood, they don

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