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John Battelle is one of the truly great media visionaries. He was co-founder of Wired and founded The Industry Standard. He's a highly influential blogger. And his wildly successful Web 2.0 conference in San Francisco next month is perhaps the industry's hottest. (Even Robert Scoble can't get a ticket!) John's next big move is the creation of an advertising "exchange" between quality bloggers like BoingBoing and Digg and national brand advertisers including General Motors and Microsoft. The new company is called Federated Media and they have quietly signed nearly 100 blogs. Here's an interesting piece by Matthew Creamer in Advertising Age. We caught up with Federated's VP Chas Edwards in New York last week. The Sausalito-based company is expanding its presence in New York with Bill Brazell, a former Standard editor who is busy finding cool blogs to pull into the federation. -- Andy Plesser Advertisers Hit Social Networking Sites to Mixed Success, NY Times......Big feature in Monday's paper by Saul Hansell about the early forays by top advertisers into MySpace, Facebook and YouTube. It will be interesting to see how this plays out. John Battelle, Federated Media, Blogs, Chas Edwards