New Apple TV, 1/4 the size, streaming only, rental only, Netflix, $99

We don't know if it runs iOS but we do know the new Apple TV, introduced today as part of Apple's 2010 special music event, is 1/4 the size of version 1, and does away with sync and purchase for stream and rent, and bakes in Netflix all for only $99.

You'll be able to get HD Hollywood movies day and date with the DVD/BD for $4.99 and older content will cost less. TV shows from ABC and FOX will cost $0.99.

Steve Jobs calls their Netflix integration the best anywhere ('natch), and with AirPlay (the newly rebranded, expanded AirTunes) you can stream audio, video, and photos from any iOS.

Speaking of which, if the new Apple TV is running iOS Apple made no mention of it, nor did they mention apps -- or games! -- or Safari web browsing.

UPDATE: Daring Fireball says it is, indeed, running iOS. It's also powered by an Apple A4 chip, so that makes the kind of sense that does.

Mixed bag of hobby?

Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.