The most easy way is, to use a separate Video-Chip for this.
At http://www.roboternetz.de/phpBB2/viewtopic.php?p=213827#213827
you can see a long thread about this. (Sorry, it is in German). Finally, somebody did the job with one simple Atmega8 Chip, 3 Resistors and a 16 MHZ Resonator.
The Atmega8 acts as a serial Text-Video-Terminal. You can use Baudrates from 1200 up to 19200 Baud. 40 columes with 25 lines can be displayed. The full ASCII Characters are available. The chip generates a b/w PAL signal.
All you need is an Atmega8 and a way to flash the video-firmware. The firmware itself is free.
Gerry