Grace Chen Senior Manager, PlayStation Store on Official US PlayStation Blog:
"If you watched our E3 announcement this morning, which we are featuring in the E3 channel on PlayStation Store, the E3 space in HOME and also on PS.com, you heard that PlayStation Network is extending our downloadable video entertainment offerings to PSP.
Beginning today, you can download standard definition movies and tv shows directly to your PSP through PlayStation Network video delivery service. You can still transfer programs to your PSP via the PS3 or from your PC via Media Go. But now, by accessing the video store directly on your PSP, it's easier than ever to take your favorite entertainment with you on the go."