Apple today announced the new Apple TV, which offers the simplest way to watch your favorite HD movies and TV shows on your HD TV for the breakthrough price of just $99. Apple TV users can choose from the largest online selection of HD movies to rent, including first run movies for just $4.99, and the largest online selection of HD TV show episodes to rent from ABC, ABC Family, Fox, Disney Channel and BBC America for just 99 cents.

Apple TV also streams content from Netflix, YouTube, Flickr and MobileMe, more than 200,000 podcasts, 4,000 Internet radio stations, as well as music, photos and videos from PCs and Macs to your HD TV. Enjoy gorgeous slideshows of your photos on your HD TV using Apple TV’s selection of built-in slideshows. Apple TV has built-in HDMI, Wi-Fi, Ethernet and an internal power supply for easy set-up, and features silent, cool, very low power operation in an enclosure that’s less than four inches square—80 percent smaller than the previous generation.

“The new Apple TV, paired with the largest selection of online HD movie and TV show rentals, lets users watch Hollywood content on their HD TV whenever they want,” said Steve Jobs, Apple’s CEO. “This tiny, silent box costing just $99 lets users watch thousands of HD movies and TV shows, and makes all of their music, photos and videos effortlessly available on their home entertainment system.”

Apple TV will be available late this month for a suggested retail price of $99. You can pre-order Apple TV on Amazon.