• by Gavin O'Malley , Staff Writer @mp_gavin, July 25, 2011

For the first time, Flipboard users should soon receive ads alongside the content of select Condé Nast titles, including The New Yorker, Wired and Bon Appétit. "Flipboard's new ad program is an outgrowth of the Flipboard Pages project, which highlights and converts magazine Twitter and Facebook feeds into specially-designed magazine-style pages," paidContent explains.

All Things Digital's Kara Swisher calls the partnership "an important deal" for the iPad-based social reading app. Indeed, "Flipboard ... has been trying to create strong ties with big publishers as it seeks to dominate distribution in the fast-growing social reading arena."

Condé Nast, meanwhile, was among several top media companies -- including Hearst Magazines, News Corp., ABC News, and the BBC -- to join Flipboard Pages when it launched in December. The publishing company has since come under even more scrutiny than normal for its dithering digital efforts.

"Condé Nast and Flipboard will share revenue from the ads at an undisclosed split," Mediabistro's All Twitter blog reports. Following debut ads by American Express, "Lexus is the next brand to feature on the program, with ads from the automobile manufacturer set to start in October."

Flipboard CEO Mike McCue tells paidContent that the company is currently in talks with all its Flipboard Pages partners about placing ads within their feeds on the iPad reader. Meanwhile, "Mindful that users' tolerance for advertising is generally pretty low, even for good-looking ads, Flipboard and Condé Nast will only activate a limited number of ad pages within specific content," paidContent adds, citing comments from McCue and Josh Stinchcomb, VP digtial sales for Conde Nast Media Group.

Also of note, "Each magazine and newspaper will be responsible for selling their own advertising space via the app," The Telegraph points out.