If I were in charge of an advertising holding company, I would buy up as many content production houses as I could. I would organize the content creation activities into systems that foster serendipitous discovery of new content, products, and services (read: the opposite of Google search). This would include the embracing of new content standards, creation of new and enhanced consumption verticals, and a focus on providing useful, compelling, quality experiences within these verticals.
The goal would be to provide advertising within these verticals in such as way as to have it actually complement the overall experience. To avoid adding another needle to an ever increasing content haystack and instead to help sift through the hay.