The answer lies in that word "syndication". From what I see now the PJM guys are taking this to mean syndicating bloggers and blogs to bloggers and other online readers. Which while it might be both fun and could even, given sufficient traffic, be profitable, isn’t what I thought they were first talking about when the subject was raised.
Isn't a blog-to-blog distribution network pretty much like an RSS feed? Except with PJM you can only get their 70 subscriber blogs...hrm. We're not sure how successful a model that could prove to be. Syndication to newspapers could prove valuable for all involved, but that doesn't seem to be the direction that PJM is moving.
Meanwhile, Mr. The Peasant points us to this Moxie post where she takes a look at the mysterious mystery of Michelle Malkin's ad situation. She also points out that PJM spent big dollars on an advertisement for Drudge today:
This morning I saw that Raj and Rerun have placed ads on Drudge. Ads on Drudge don't come cheap, my friends. Did they get a discount for idiotic conservatives? I doubt it. Matt Drudge HATES blogs.
My friend Andrew Breitbart (Drudge's right hand man) was the only one I heard good things about from the Pajamas Media mis-launch -- and as nice as he is -- I highly doubt that Breitbart worked a deal for them. If he did talk Matt into this, I hope Matt is awash in shame.
That's a lot of dough to be dropping without a revenue stream. Who was it with the "slow capital burn rate" theory? Because a Drudge ad, eight staffers, and 70 bloggers to pay sure seems to put the lie to that hypothesis.