Time Warner's AOL will be offering downloads of movies from four major Hollywood studios.

AOL Video will offer films from Twentieth Century Fox, Sony Pictures Home Entertainment, Universal Pictures and Warner Bros. Home Entertainment Group for download, at $9.99 to $19.99 per movie, reports Reuters. Once downloaded, movies can be viewed offline as well as on other PCs and compatible portable devices. AOL Video was launched in August as a one-stop shop to search and download online video (free and for-fee) - and also upload videos.

Update: ClickZ reports that in conjunction with AOL Video's official moving out of beta Tuesday, Discover Card has bought out all display ad inventory in the video portal and will in that manner be the sponsor of the site section till the end of Sept. AOL offers pre-roll and mid-roll ads in addition to banners alongside the video player.

The film partnerships complement the 17 or so video content partnerships and more than 45 on-demand channels that AOL Video announced in July, AOL said.

"Viewing online digital content is no longer an esoteric pastime," said Benjamin S. Feingold, President of Sony Pictures Home Entertainment, Digital Distribution and Acquisitions. "Online programming services like AOL's video portal have the potential to become a major distribution stream for consumer entertainment and a viable revenue source for Hollywood."

"We are eager to continue to develop the market for digital downloads by applying our premium content to one of the web's strongest brands," said Peter Levinsohn, President, Fox Digital Media. "AOL's wide usage will increase our ability to get Fox's electronically delivered movie and TV product in front of a huge number of consumers."

AOL also announced that Fox and Sony TV content will be accessible through the AOL Video portal's online interactive programming guide (IPG). The AOL Video IPG brings together free and download-to-own video content and organizes it into more than 50 video-on-demand channels. Additional AOL Video on-demand channels will launch in the coming months.