Online ad revenue climbed to $21.2 billion last year, marking a 26% increase from 2006, the Interactive Advertising Bureau and PricewaterhouseCoopers reported today.

The IAB’s report wasn’t the only current indication that online media is still thriving. CBS today said it plans to acquire CNet for $1.8 billion cash, marking one of the largest media company consolidations in recent years.  View full story...

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