Blog-driven ad network Federated Media is rumored to have raised $50 million at a $200 million pre-money valuation from Oak Hill Capital Partners, according to VentureBeat.

Investment firm Savvian reportedly helped broker the deal.

The firm is said to have generated between $20 million and $23 million in revenue last year and expects to make $60 million this year, hopefully with a profit.

Federated Media sells advertising for sites like VentureBeat, Dooce, Ars Technica and Boing Boing. In 2006 it launched an automated ad-planning tool that pairs advertisers with quality blogs.