Well, it appears that ‘that’ day is finally upon us.

Apple are preparing to offer films for purchase and download through iTunes in the UK and Canada.

The Times reports that Disney, Paramount, Twentieth Century Fox and Warner Brothers have all agreed to the deal, but warns the studios have insisted download prices do not undercut the cost of physical media, predicting prices between £6 and £25 per film through the service when it begins.

As in the US, films will be available both for outright purchase and for rent. The exact date on which popular films will be made available is yet to be finalised, and the release schedule is set to be up to the studios.

The report also adds that LionsGate and MGM have also agreed the deal, though Sony Pictures and Universal Studios have refused to sign-up to it so far, despite that iTunes experience in the US has suggested the extra availability of films online actually boosts interest in films made available.