Media buyers are taking a wait-and-see attitude about whether the newly independent AOL's efforts to better organize its network of 80 sites will click with advertisers. AOL in the first quarter saw its ad sales fall 19%. "Yahoo went through something very similar," said Jordan Bitterman, senior vice president of media at Digitas. "They had new leadership and an identity crisis and turned it around. I would expect the same thing at AOL."

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