online ad

-- Glam launches app network: The notion of apps as ad revenue generators is still in the exploratory stage for most publishers. But female-focused ad net Glam Media thinks it can change that, by launching the Glam App Network.

-- NYT And Monster partner on free job posting promo: With help wanted ads continuing to decline, newspapers might as well give the space away. Well, that's what NYT and partner Monster.com are doing—as long as recruiters get their job listings in by midnight on Thursday.

Last quarter, Lee Enterprises (NYSE: LEE) was one of the few newspaper publishers to see declines in online ad revenues, alongside the now-standard plunge on the print side. Things were more dire in Q3 for the Davenport, Iowa, publisher. Lee Enterprises recorded a staggering 71.9 percent decline in net income, ending Q3 with $5 million profits ($0.11 per share) versus last year's $17.8 million ($0.39 per share). The publisher said revenue dropped 10.7 percent to $244.9 million.

Search engine company Local.com beat its guidance for its Q3 net loss, narrowing its shortfall to $1.7 million ($0.12 per share) from last year's $9.3 million. Revenue was $10.2 million, which was below guidance, but represented an 82 percent increase from Q307. The company's earnings come on the same day as a fairly pessimistic report by Borrell Associates was released.

With Jerry Yang seeming to beckon Microsoft (NSDQ: MSFT) back to the bargaining table now that its search ad pact with Google is dead, ad executives speaking in betwee

In her annual state of the Internet industry presentation at the Web 2.0 conference today, Mary Meeker outlined, among other things the structural issues in the online ad and tech growth, and how densely connected they are to the larger economic activity. Imagine delivering that to the nattering nabobs of Silicon Valley...oh wait, they got the Sequoia memo before that.

Since JP Morgan internet analyst Imran Khan lowered his expectations for online ad spending two months ago, the outlook has only gotten more pessimistic. In Khan's latest revision downward, JP Morgan is now calling for total online global ad gains of 25 percent in F'08 and 13 percent in F'09.

Online ad firm ValueClick had previously warned investors that Q3 would be rough and its earnings report on Wednesday clearly bore that out: the company's GAAP net income was $2 million ($0.02 per diluted common share) down 88.1 from $16.8 million ($0.17 per diluted common share) fin Q307. Net income in the impacted by the completion of an offer to purchase up to 4.9 million stock options with exercise prices ranging from $25.66 to $29.73 per share. It was also impacted by certain tax adjustments.

The big picture: MSLO's Q3 revenues were relatively flat year-over-year. They came in at $66.5 million, down 0.2 percent from $66.9 in Q307 (excluding revenue from Blueprint, the home decor magazine the company shuttered late last year)—pulled and pushed by tanking print sales and strong online growth.