1. The Dow Jones is up for sale and rumors started by a connected analyst state that Google may be interested. I say "don’t hold your breath." This is likely a tall tale. Here is another article from Bloomberg: "Dow Jones Holders Say Murdoch Bid May Trigger Auction (Update4)"
   
2. Yahoo responds to Google’s purchase of DoubleClick by purchasing the remaining shares of Right Media for $680 Million; an ad buying exchange very similar to DoubleClick.
3. Microsoft has expressed interest in purchasing 24/7 Real Media; one of the few remaining media companies in the Internet advertising industry that have not already been snatched up. In fact, 24/7 Real Media appears to be the only advertising firm that would provide Microsoft with the ability to compete with Google and Yahoo in this advertising exchange space. According to a recent posting by the Houston Chronicle on 24/7′s stock holdings these unconfirmed reports of a Microsoft buyout is creating uncertainty with investors so at this point there is no telling if the talks are going anywhere.
4. Microsoft purchased ScreenTonic, a European mobile technology pioneer that specializes in advertising on the mobile web. Steve Berkowitz, Senior Vice President of Microsoft’s Online Services Group had this to say, "the acquisition of ScreenTonic will be part of our long-term strategy to deliver ad experiences that map to the environment. Together, we will be able to provide relevant ads where consumers are, when they are actively engaged and communicating."
5. Microsoft completed its acquisition of TellMe Networks, a company specializing in speech recognition, automated enterprise support services, and voice-enabled mobile search. The purchase was originally announced in March of 2007 and was touted by Steve Ballmer, CEO of Microsoft as a way to "enable us to deliver a new wave of products and revolutionize human-computer interaction."

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Two sectors of digital advertising look like the major growth areas for online firms: local and mobile. They intersect in a way, since someone who is on the road looking for a local business probably has a mobile phone on hand to help with the search.

Cellphone ownership has become common across all walks of life. Major Internet players like Microsoft want to cash in on their ubiquity by pushing advertising to mobile users. Yahoo, AOL, and Google all have similar desires.

Instead of partnering with someone for mobile ad delivery, Microsoft has opted to do what a multi-billion cash pile allows CEO Steve Ballmer to do: go forth and buy someone who’s already doing what you want to do today.

This brought ScreenTonic into the dollar-lined embrace of Microsoft. ScreenTonic has been focused on mobile advertising for several years in the European market.

Since ScreenTonic is privately held, financial terms of the deal have not been disclosed. ScreenTonic’s service will augment Microsoft’s Digital Advertising Solutions products, Microsoft’s spokespeople noted in a statement.

Senior VP Steve Berkowitz of Microsoft’s Online Services Group said: "The acquisition of ScreenTonic will be part of our long-term strategy to deliver ad experiences that map to the environment. Together, we will be able to provide relevant ads where consumers are, when they are actively engaged and communicating."

Rolling out that strategy in Europe should be an easy one for Microsoft. ScreenTonic has done much of the work already, as they have relationships with large mobile operators in Belgium, France, and the U.K.

A report by media research group Visiongain said mobile advertising in Europe and the U.S. should be a $1 billion-plus market by 2009.