Fox Interactive Media (FIM), the branch of News Corp. that includes MySpace, AskMen.com and IGN, is launching a new service that offers self-serving video and display ads for local businesses.

Known as FIM AdStore, the service will be accessible through local Fox TV station websites, according to ClickZ. Advertisers will purchase ads by bidding on a CPM basis to start, with the possibility of ads being sold on a performance basis in the future. FIM AdStore will give advertisers access to producers and writers to help create the advertisements, similar to the recently launched Google TV Ads.

"We're capturing that market where small businesses can create their own ads without having a lot of touchpoints," said Ron Berryman, SVP and GM of FIM's Stations Group.

However, unlike Google TV Ads, FIM isn't selling TV time just yet, although Berryman said packaging TV and internet ads is a possibility.