Apple CEO Steve Jobs today previewed a half-size Mac mini-like set top box codenamed “iTV” that is slated for release in the first quarter of 2007.

“Enjoy your media on big screen TV, works with PCs or Macs, Coming in Q1 2007, $299.”

The “iTV” is connected to your TV and allows you to access all of the media (movies, TV shows, music, photos, and podcasts) that’s on your Mac or Windows PC running iTunes.

The $299 “iTV” will feature a next-gen Front Row interface the box with the following announced features:
• Built-in power supply (no power brick)
• USB 2.0
• Optical Audio
• HDMI port
• Component Video RCA stereo audio ports (for older sets)
• Apple Remote compatible
• Ethernet
• 802.11 wireless networking

Steve Jobs gives sneak peek of Apple’s “iTV” wireless set-top box:

Steve Jobs begins talking about iTV in the QuickTime video of today’s presentation at the 52:25 mark here.

Related article:
Apple’s QuickTime stream of Steve Jobs special event now live – September 12, 2006