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Warner Bros. becomes the latest in a string of signings with Apple for it’s iTunes movie rental service. The studios now participating are Warner Bros., Lions Gate, Paramount, Disney, and 20th Century FOX, the original signer.

All this according to a report by Bloomberg, which also states that film rentals will cost $3.99 for new releases and older films alike, and that no spokespeople for any company involved would comment, or in one case, even return messages.

Bloomberg thinks that movie rentals will boost Apple’s media pllayers popularity even further, causing more studios to climb aboard.

“Once a couple of studios do it, how long can the others resist?’’ Richard Greenfield, a Pali Capital analyst, said in an interview. ``It becomes only a matter of minutes before the others come on board too.’‘

Apple’s AppleTV is widely expected to undergo an update at MacWorld, coinciding with the iTunes rentals. The update is expected to include device-unique features such as DVR, that would make the AppleTV a product worth buying over a Mac Mini.

Incidentally, Apple’s stock saw it’s first rise in over a week today, rising $8.15 to close at $179.40. While it was most likely due to the release of new Mac Pros and XServes, more iTunes rental rumors don’t hurt.

Read [Bloomberg]