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SAN FRANCISCO (AP) - Apple says it will sell a new, smaller version of its Apple TV device for streaming movies and television shows over the Internet and into the living room.

The new Apple TV will only let people rent, not buy, content. For first-run high-definition movies the day they come out on DVD, people will have to pay $4.99. High-definition TV show rentals will be 99 cents.

Apple TV has been around since 2007, but it hasn't caught on with the mainstream. It doesn't record shows the way TiVo and other digital video recorders do.

At an event in San Francisco on Wednesday, Jobs says the current Apple TV setup is too complicated for average consumers.