RIM Eyes Mobile Ad Network

The BlackBerry maker is shopping for a mobile advertising network, and has held talks in recent months with Baltimore-based Millennial Media about a potential acquisition, a report says.
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WATERLOO, Ontario, Canada (

TheStreet

) --

Research In Motion

(RIMM)

, the BlackBerry maker, is shopping for a mobile advertising network, the

Wall Street Journal

reports.

RIM has held talks in recent months with Baltimore-based mobile ad network Millennial Media about a potential acquisition, people familiar with the matter told the newspaper. The talks, however, have stalled over disagreements regarding the value of Millennial, which serves advertisements on its own network of mobile Web sites.

Millennial has asked for between $400 million to $500 million, but RIM has been unwilling to pay that price, the

Journal

reports.

RIM is under growing pressure to respond to

Google

(GOOG) - Get Report

and

Apple

, which purchased mobile-ad firms AdMob and Quattro, respectively, the

Journal

notes.

RIM today has 17.8% of the global smartphone market, down from 19.1% in the year-ago quarter, according to IDC, the

Journal

says. RIM executives now believe they must also catch up in the wireless advertising business, the

Journal

reports.

-- Written by Joseph Woelfel in New York.

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