The blogosphere looks to be staking the next step in its evolution to compete with MSM in its ability to sell advertising. Webpronews.com reports that Roger L. Simon and partners have sent an open letter to bloggers:

Charles Johnson, Marc Danziger and I have been sneaking around over the last few months, trying to turn blogs into a business. We have enlisted some others with names familiar to you with the intention of working in two areas - aggregating blogs to increase corporate advertising and creating our own professional news service.
With respect to advertising, we do not wish to go into competition with Henry Copeland’s BlogAds, which we fully support. (Some of us even have them!) We are working on another model that will sell ads en masse, not blog-by-blog. We expect this model to go live within a few weeks.
It will be interesting to see how this unfolds.