According to the Wall Street Journal, FOX and ABC will announce 99 cent rentals of TV shows through iTunes.

People familiar with the matter are cited. According to Bloomberg BusinessWeek, Apple will announce a settop box for video that will include Netflix programming and a revamped version of Apple TV that will cost 99. The publication also says that Apple will release a revamped version of iTunes and an upgraded iPod Touch with higher screen resolution. The whole thing should be a big win for Netflix.