You get an error message that quick time does not work with this version of iTunes. This is happening with new movies just released and iTunes 11 and Lion OS X. In addition, Apple TV is not syncing with iTunes 11 when you select movies but if you select automatic sync it seems to work. If you relaunch in 32 bit mode it works, but this shouldn't be happening with NEWLY released movies. There has to be a bug in iTunes 11.
Apple TV, OS X Mountain Lion (10.8.2), iTunes 11 is a problem
I am having this as well. Pulling files out of the "cloud" from brand new movies and some older. Support doesn't want to help at all so i am hoping htere is someone monitoring this that knows how to resolve this issue. What is the point of having over 300 movies purchased from iTunes if you can not play them