This will further expand on their partnership with NBC Universal and News Corp, which own Hulu; in short, CBS plans to turn TV.com - once merely a comprehensive TV guide - into the biggest destination for professional video content on the web.
Most of the content is viewable only in the US, to which most international users are already used to; probably being resigned to the point that they turn to sites like the Pirate Bay for their online video needs. But this is an old story, and until the copyright mess is resolved, it won't change as far as professionally produced video content goes. Apart from this, the site already features a large library of free advertising-supported content, and today it'll expand beyond Hulu's and CBS' offerings.
Where TV.com really tries to differentiate from Hulu is user interaction, giving users the ability to comment and rate the flicks. You can rate individual comments from users in Digg-like fashion; each user can register and receive their profile which shows their individual preferences, voting history and other stats; you can send them personal messages, etc.
