Facebook, Skype readying in-browser video chat?

Is this the "awesome" product Mark Zuckerberg was hinting at earlier in the week? TechCruch reported late Friday that Facebook and Skype are working on integrating a video chat feature into Facebook Chat. The announcement could come next week at a press conference Facebook has scheduled.

Earlier, Google announced a rival offering to Facebook that would let users have group video chat sessions with friends who they put in their social "Circles."

Late Wednesday, Facebook CEO Mark Zuckerberg teased journalists while on a visit to Seattle when he promised an important announcement was in the offing in the coming week.

You can read more about this story on CNET.