ReveNews speculates that ValueClick is planning to sell CJ and focus on its behavioral targeting business and perhaps build out an agency.

Who Might Buy CJ
Advertising.com, aquired by AOL in 2004, has been attempting to set up an affiliate network for years and has never managed to get traction for various reasons. If it buys CJ, then this gives them a huge footprint in the affiliate marketing space. Also, the CJ network should fit in nicely in properties that form Ad.com.

As for my other thought, first let me emphasis, this is all speculation and I have no inside information from anyone, so what I’m about to say is just some thinking aloud. Experian Interactive is building an online lead gen powerhouse, and CJ, with it’s strong anchor in lead gen, fits nicely in its portfolio of companies. And they get affiliate marketing, after all, LowerMyBills.com and ClassesUSA are just affiliates that set up a sale side and then grew into giants.

And I’m sure their would be many other suiters that would buy CJ too. It seems to me, ValueClick is at a crossroads when it comes to CJ; this will be interesting to watch.

If I was eBay, I would be looking at this very very carefully. I would use leaving CJ as a leveragee to give it negotiating power so it can acquire it cheaper than anyone else. Once eBay buys it, it no longer has to invest in its own affiliate technology to increase margins. Plus, if I was ebay, I’ll combine it with the contexual program its testing and take on adsense (starting with its huge base of affiliate marketers who 100% also uses adsense). Futhermore, it can turn its world class internet marketing team/technology into a profit center rather than a cost center . . . this is a bet that eBay NEEDS to make. and sounds like the ante is not that high either . . .

Core Marketplace + Express + Pay Per Call + Pay Per Acquisition + “Future Initiatives” are all viable bets around the advertising/marketing (or simply customer acquisition) industry . . . where Google hasnt gotten a strong head start.