Rumor site Think Secret is reporting that Apple is preparing to expand iTunes beyond music and television into the realm of movies, with an announcement slated for August 7 at the company’s Worldwide Developers Conference. Unlike its music and TV downloads, which are perpetually owned by the user once purchased, Think Secret says movie downloads will be offered on a rental basis and will expire after a certain period of time or number of viewings. Apple reportedly made this concession after movie studios would not budge to its demands.