Microsoft's acquisition late last week of the AdECN advertising exchange is a smart move. I interviewed Bill Urschel, the founder of AdECN earlier this year.It is a company that has quietly managed to establish itself as a major real-time exchange …

...and the rapid fall of the East Coast Media Advertising agencies have become the prime target of the Internet giants in their most recent M&A activities. It is all part of the roll-up in the industry, as Sramana Mitra describes it well. …