Sony has announced that they are willing to carry all studios' video content on their PSN video delivery service -- they'll be hosting standard and high definition videos from anyone who wants to sell them. Video will be available for both sale and rental, and will be portable -- you'll be able to buy it on a PS3, download it to the PSP, and have it live on both devices at the same time.
Prices are said to be $2.99 for an SD rental, and $5.99 for an HD download. Purchase price is $14.99 for SD movies, and it's unclear yet whether HD content will be sold for purchase. The video store will look much like the game store, and will be available tonight