Noteworthy . . . from the folks at PaidContent:

Weblogs Inc, the blog media company founded by Jason Calacanis, is being bought by America Online . . .The company's blogs have had an exponential trajectory, with sites like Engadget, Autoblog, BloggingBaby and others. In total, the company has about 130 bloggers, with about 15 full-time employees . . . AOL intends to keep the company/blogs separate from its site . . .

More from Reuters, including the estimated terms.

AOL also recently added a number of new features and enhancements to its search functionality. Here's Chris Sherman's overview. In addition, business networking site LinkedIn is integrating AOL IM into its service to facilitate "real-time communications."