Dipity is a free online timeline website. It started with three guys who wanted to get a good idea of what all that searching on the Internet was actually yielding; to make research more efficient; to see the big picture of how any subject affected the past or influenced the future. It allows users to bring history to life with video, audio, text... and yes, it's free. You do have to join Dipity in order to create a timeline. Their FAQ page says that soon they will support exporting of the timeline to PDF, which would also make them printable. Free accounts have some restrictions. Premium accounts start at $4.95/month.
Great possibilities also for digital storytelling.
The Timeline below was created with their "search" . (Just searched Google news and YouTube.)