America Online is set to introduce a free, ad-supported video service, CNET News.com has learned, in a move to diversify its business and seize on a burgeoning sector of online advertising.

The Internet service provider, a unit of Time Warner, will open AOL Video to the public in the coming weeks, Tom Bosco, AOL’s director of broadband sales development, said in an interview Thursday. It also will debut Netscape Video, an on-demand video entertainment service, before the end of the year. The moves will follow last month’s launch of video programming on AOL Instant Messenger.

Source: News.com