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What Seed Media Group should be doing, what every media group should be doing, is become a tech-oriented company (one of the reasons PLoS is successful is that it is essentially a technology-rich publishing company, with an incredible and visionary IT/Web team working with the editorial team in driving innovation).
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Many science bloggers are personal friends, and many are also heavy users of social networks like Twitter, FriendFeed and Facebook, so the ties will remain. The popularity of blog carnivals may come back up, at least temporarily, due to their well-established effect of building and maintaining the community. ResearchBlogging.org, apart from building respect for science bloggers in the outside world, is also beginning to serve as a center of the blogging community (and I hope it survives, funded by Seed or, if that becomes impossible at some point in the future, by whoever else can be lured to do so).