Why Aren't More Blogs M&A Candidates?

Felix Salmon has been the leader in following blog valuations in his periodic Blogonomics posts on the Portfolio.com Market Movers blog. Meanwhile, Doug McIntyre has ranked the 25 most valuable blogs on his 24/7 Wall Street blog.

Now, the mainstream media has taken notice (at least from an editorial perspective). The June issue of Mergers & Acquisitions Journal will have an article on why blogs haven't been actively pursued as M&A targets by the major media companies (with a few exceptions like Jason Calacanis' Weblogs Inc. acquired by AOL). A preview of the article appears on their Mergers Unleashed web site (with a few quotes from me included).

Felix Salmon wasn't sourced in the article, which is a shame, because he has been out in front on this issue, notably in his scathing response to a Breakingviews article earlier this spring.

Which blog do I think has the best chance to be acquired by a big media brand? I'd vote for HuffingtonPost, though they should sell before the election, as I think they'll be worth less in January than in November.