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As much as we appreciate you reading Mashable, we realize you probably spend at least a little bit of time perusing some of the celebrity gossip blogs. And if you’re really obsessed, you might even read blogs maintained by actual celebrities, or participate in a celebrity’s social network (just not Nick Lachey’s, we hope).

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Entertainment and gossip news site and TV show TMZ has announced the launch of a mobile site today. That’s right, if you can’t wait to check a browser or watch the show to find what’s going on with the celebrity crowd, you can now get it direct to your handset any time of the day! Watch the worker productivity go straight up ya’all! TMZ is part of AOL.

Quattro Wireless is handling the development and deployment of the WAP/Mobile site available on any wireless carrier in the U.S. The site will be ad supported and the initial sponsor is the producers of the movie, "Walk Hard". TMZ can sell advertiser packages across tv, web and mobile making for a very leveraged buying opportunity.

Content on the site will be delivered in a Web browser but breaking news will be provided via text message. Ad revenue will be split 50/50 by AOL’s Third Screen Media and Quattro Wireless. This comes a month after TMZ partnered with MySpaceTV.

This site will do very well financially.

Check out the printer we used for our business cards:

Blogs continue to sell — but blog valuations are staying modest. Discovery Communications, the cable-and-online media company, has bought enviro blog TreeHugger for a reported $10 million. With nearly 2 million unique visitors, that means Discovery paid a very modest $5 per “eyeball” — the unpleasant online-advertising slang for a reader. Contrast that to the bubbly hopes of GigaOm’s Om Malik back in 2005, when he wrote about the “return of monetized eyeballs” for Business 2.0. (Full disclosure: I helped him crunch the numbers for that story.)

If anything, TreeHugger’s sale marks a steady downward trend from the frothy days of 2004 and 2005, when the $519 million deal Dow Jones struck to acquire MarketWatch and the $25 million sale of Jason Calacanis’s Weblogs Inc. to AOL sparked hopes of pricier blog buyouts to come. But they didn’t materialize.

Instead, today, blogs like TreeHugger are evaluated more like conventional media properties, based on audience size, advertising, and growth rates, not eyeballs alone. And, of course, strategic fit matters. Discovery’s TV viewers are naturally drawn to green blogs. Better for Discovery to own those blogs than let its cable audience drift away to them.

Source:Valleywag

When Brian Alvey, the cofounder of Weblogs Inc. and a former AOL executive, suggested that AOL change its name to TMZ, the popular gossip blog it owns a stake in, I took it as the throwaway joke it was. But now, some idiot named Bill Hartzer on InternetFinancialNews.com appears to be taking Alvey seriously. For anyone else equally lacking in both sense of humor and sense, let me ’splain something to you. Alvey’s idea is, of course, brilliant. But it’s not going to happen.

For one thing, AOL doesn’t really own TMZ. It’s a joint venture between AOL and a unit of Warner Bros. While the venture itself is a rare example of co-operation between warring branches of the Time Warner media conglomerate, it’s unlikely that Warner Bros. would ever let go of the brand. Time Warner lore has it that when the cable division first proposed using Warner’s Road Runner character as the name for its high-speed Internet product, Warner asked for a billion-dollar license fee.

And TMZ, while popular and growing, unlike most of AOL’s services, is too narrow a brand, ultimately, to cover AOL’s full range of services. (TMZ refers to Hollywood’s “thirty-mile zone” enshrined in studio contracts.)

And finally, Warner is launching a “TMZ” television series this fall. It’s running on News Corp.-owned Fox stations, and it’s hard to imagine News Corp. CEO Rupert Murdoch tolerating his TV broadcasts promoting services which compete with MySpace.

No, what Alvey didn’t mention — but would make more sense — would be to free TMZ from its warring parents, and all their conflicts. With 9.4 million unique visitors a month, TMZ could easily stand on its own. Forget an AOL spinoff. Bring on the TMZ spinoff.