LIN Media Buys Federated Media

Austin-based media and television broadcaster LIN Media said this morning that it is in a definitive agreement to acquire Internet advertising company Federated Media Publishing. Financial terms of the acquisition were not announced. Federated Media helps connect agencies and brands with bloggers and online publishers, helping to arrange advertising and sponsorship deals. LIN Media said the move will help it expand its platform. In a related move, Federated Media Publishing said it has spun off the rest of its business--which came from the former online advertising network Lijit Networks--as a new company, Sovrn. Federated Media is well known among the blogging community for its services.