Look out Apple TV. Some competition is coming your way. According to The Hollywood Reporter, video rental chain Blockbuster is currently developing a set-top box similar to the Apple TV, which allows users to rent streaming movies right from their remote-controlled unit.

They are expected to announce the offering later this month and, while Blockbuster declined comment, a spokesperson offered this: "We're talking to numerous companies and vendors about products, services, alliances and initiatives that can help us achieve our mission to transform Blockbuster into a company that provides access to media content across multiple channels -- from our stores, by mail, through kiosks, through downloading, through portable content-enabled devices-- so it's not surprising that there are rumors out there."

Both Blockbuster and Apple TV are not alone, though, as online rental pioneer Netflix had previously stated they're working on a set-top box to be manufactured by LG.