It seems like several different web companies are racing to build replacements to Google's ill-fated Reader product that officially closes down July 1. Digg was one of the first to announce a replacement option, now it appears that AOL has thrown its hat into the ring.
According to the AOL Reader site, the new product is "in private beta now." It promises "all your favorite websites, in one place." Not much is known about the service. In fact, I haven't been able to find anything publicly announced by the company ahead of the launch.
On another page, a bit more information about the service can be found. It offers a customizable layout, the ability to import and export your feeds, and an API so anyone can develop web, desktop, and mobile apps on top of the service. We'll have to see how it ends up looking once it is out of beta.