Oh, the lobby. It's always so much more interesting milling about the lobbies of conferences than it is to listen to panels. You never know what kinds of scoops you'll get. At the AlwaysOn conference in Hollywood, I bumped into a few venture capitalists. I found out during one of the conversations that AOL bought Third Screen, a mobile advertising company. From the company's Web site: "Third Screen Media is a marketing technology company that enables advertising for mobile phones and wireless devices. Third Screen Media created the TSM Network, the world's largest, single-source mobile ad network and developed MADX, the only web-based, mobile ad management and delivery platform that connects advertisers, publishers and carriers."

The amount paid for the four-year-old company was not disclosed to me. But I can't imagine the company is making much these days as the mobile market is pretty nascent. Good move by AOL though. From what I hear, Third Screen was a good purchase.