Apple has announced Final Cut Pro 3, a version of its professional video-editing program designed to run under Apple’s Mac OS X operating system. With the latest version of Final Cut Pro, Apple is introducing a new format, OfflineRT, which can store 40 minutes of video per gigabyte of hard drive space. Final Cut Pro 3 will be available later this month for $999, or $299 for registered owners upgrading from an earlier version of the software. The software requires Mac OS X version 10.1.1 or Mac OS 9.2.2, a 300 MHz or faster PowerPC G3 or G4 processor, a built-in FireWire port and at least 256MB of RAM. In related news, rumours want the new QuickTime 6 to be built around Mpeg.