AOL's new gossip site, TMZ.com, has been officially launched, with Chrysler placing a video ad for its Chrysler 300C on the new site; moreover, advertisers such as Revlon, Hilton Hotels, and New Line Cinema are also going along for the ride, reports the New York Daily News (via MediaBuyerPlanner). TMZ.com - which stands for the "Thirty Mile Zone" surrounding Hollywood - is AOL's latest venture, part of its new approach that the company hopes will help generate the necessary traffic - and attract advertisers - to support AOL's free portal strategy.

AOL executives admit that they're entering a field crowded with gossip and celebrity venues, from newspapers to magazines to TV and other online properties, but the company hopes to stand out by offering plenty of video - both new and from the archives of the TV show Extra, produced by AOL sister company Telepictures Productions.