Dulles, Va.—Seeking a foothold in the mobile ad space, AOL Tuesday announced it has acquired Third Screen Media, a mobile-specific advertising network. Third Screen will operate as a wholly owned subsidiary of AOL's Advertising.com ad services division. Financial terms of the deal were not disclosed. AOL Chairman-CEO Randy Falco said in a statement that the deal "gives us a very strong position in the mobile space. … It also lets us offer advertisers a more complete set of solutions, from display advertising to search and now a superior set of mobile solutions."