America Online began beta testing an overhaul of its instant messaging system. The online media company hopes to add new features to its popular IM product including PC-to-PC voice and streaming video messaging capabilities, and file transfers. AOL's IM beta will eventually allow users to access real-time video, swap files, images, and other content, as well as play games. The client also features something called "IM Catcher," which groups messages into a single interface, allowing users to organize IM chats.

The highly anticipated overhaul of Yahoo! News debuted sporting a tidy, more streamlined look and new features. The redesigned site includes the Internet giant's YQ search technology that enables readers to access search results related to specific phrases or names in stories. This is accomplished without ever leaving the page - pretty nifty.

Okay, something we need to know today: Why was Ralph Reed, the former head of the Christian Coalition, on Microsoft's payroll for several years earning $20K a month? (Not a bad haul, not by a long shot.) And what, if anything, does Reed's work for Microsoft have to do with the company deciding not to come out in support of proposed legislation in Washington state that would ban discrimination against gays and lesbians?

From the cruel and unusual files, comes a report from California that state legislators approved a bill to ban Internet-based hunting. The lawmakers voted 25 to six to ban the practice.

The waiting is over. (Not that it took so long - DoubleClick has been on the block for only five months). San Francisco-based buyout firm Hellman & Friedman is buying the Internet ad services company for nearly $1.1 billion. JMI Equity Fund is a minority investor. It looks like stockholders will get $8.50 for each share of DoubleClick common stock. That's 10.6 percent over the stock's average closing price in the last month. The deal is expected to close in the third quarter and Kevin Ryan, the company's CEO, will depart. Once the deal closes, David Rosenblatt will stay …

Amid reports that leveraged buyout firm Hellman & Friedman is nearing a deal to buy DoubleClick for as much as $1.2 billion, the online ad services firm reported a quarterly loss.

In case you haven't already heard, DoubleClick's stock jumped 17 percent from $1.30 to $8.60 on news that Hellman & Friedman, a San Francisco-based buyout firm, is closing in on an acquisition of the Internet pioneer that's estimated at nearly $1.2 billion.

America Online says it will block identity theft sites and track sites that are suspected of conducting illegal activity. It's all part of a new plan to fight what has become known as "phishing," or the practice of sending phony e-mail and creating fake Web sites to lure personal information from consumers.

Where are all the talented, enthusiastic, earnest, curious, creative, and analytical young people? Chances are, a lot of them will show up at 212's first annual Interactive Advertising Career Day and Recruitment Fair. At least we hope they do. 212, the Interactive Advertising Club of New York City, is holding the event, sponsored by MSN and NYTimes.com, on Friday, April 22.

Two out of five online U.S. consumers have read a political blog and more than a quarter read them once a month or more, according to a new survey by Harris Interactive. There are more adults reading the blogs of political pundits and prognosticators than there are people posting comments on them. The Harris survey, conducted in March, found that of 2,630 online adults, less than one in 10 had ever posted a comment to a political blog. Harris found that 15 percent of those surveyed had posted comments. Not surprisingly the survey found that people with a …