WATERLOO, Ontario, Canada (
Research In Motion
, the BlackBerry maker, is shopping for a mobile advertising network, the
Wall Street Journal
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
RIM is under growing pressure to respond to
, which purchased mobile-ad firms AdMob and Quattro, respectively, the
RIM today has 17.8% of the global smartphone market, down from 19.1% in the year-ago quarter, according to IDC, the
says. RIM executives now believe they must also catch up in the wireless advertising business, the
-- Written by Joseph Woelfel in New York.
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