Too much Valley and not enough wag

The deepest coverage of the Web 2.0 Summit isn’t by Forbes, it’s by Valleywag. Maybe it’s not the deepest, but it is the most colorful.

I heard from several people yesterday afternoon that Valleywag broke the news of AOL buying Blogsmith. I didn’t know if it was a friendly post or a mean one so I didn’t know whether to thank the little bearded guy who runs Valleywag or curse him. I expected to read that “entrepreneur Calacanis sold another company to AOL,” but they had a different spin on the deal. I still think they should have worked in that thing where I own Web 2.0 Summit host John Battelle’s domain name.

One correction: Blogsmith has always been a separate company. So Weblogs, Inc. didn’t sell anything to AOL, Blogsmith did. AOL acquired Weblogs over a year ago. It would be odd if Weblogs sold them something new today.

Wag on.

[More information on Blogsmith and AOL is here.]