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Ad industry to test electronic buying and selling

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New York—The American Association of Advertising Agencies on Friday announced an initiative aimed at converting all transactions between buyers and sellers in the advertising industry to a fully electronic communications system.

Dubbed the “ebiz for Media Lab,” the project will provide a centralized location where media agencies, media companies and their software vendors can share information on the systems they currently use to conduct electronic transactions.

The lab project is part of a broader initiative, ebiz for Media, that seeks to establish a common set of standards and guidelines for the electronic invoicing and ordering of airtime and ad pages.

—Matthew Schwartz

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