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 on PSN.