Millennial Media in the frame.
Research In Motion is looking to buy a mobile advertising network, with Millennial Media squarely in its sights, according to the Wall Street Journal.
Its article, citing several sources, claims that RIM and Millennial Media have held talks in recent months, although it suggests that they may have stalled over the potential price of the acquisition.
The WSJ claims that Millennial wants $400-$500 million, based on the price paid by Google and Apple for AdMob and Quattro Wireless - $750 million and a reported $275 million respectively.
Neither RIM nor Millennial have commented for the story, but any acquisition would represent a change in RIM's mobile advertising strategy.
At its developer conference in November last year, RIM announced plans for something called the BlackBerry Advertising Service, which was due to launch in the first half of 2010.
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Its key selling point was the fact that it would provide BlackBerry developers with a single API from RIM, which would let them place ad units from networks including Millennial, Jumptap, Lat49, Navteq, Quattro Wireless, 1020 Placecast and Sympatico in their apps.
Buying an ad network would presumably alter that strategy - which may explain why the BlackBerry Advertising Service has still not launched.
