Are Blogs Diluting Yahoo's CPM Rate?

Are blogs (like Dvol) diluting Yahoo's advertising dollars per CPM? I'm wondering if they are scooping up independent online video properties? This is an interesting clip I found at BNN TV. Brigantine Advisors managing director Colin Gillis initiated coverage on Yahoo with a SELL and $13 target.

"The supply of pages that are available online is tremendous and it's the supply piece of the equation that we have to be worried about. Ad rates are dropping particularly for Yahoo on display advertising. When they used to get 12-$15 per 1000 page views that has dropped down to $5" continued at BNN.ca.

Check out this chart that compares Yahoo, Google, Bing search traffic from StatCounter. Also below I provided $Yahoo's stock chart from stockcharts.com ($15 at 50d/trend support, 200d just under $14).

Source: StatCounter Global Stats - Search Engine Market Share




Other Analyst Views (More Bullish):
Yahoo Undervalued By Market, Citigroup Analyst Says ($21) (WSJ)
J.P. Morgan analyst Imran Khan repeated his Overweight rating and $19 (Barron's)
Yahoo: Barclays Turns Bullish, Raises Target To $20 (Barron's)
Soleil Securities Group Raised YHOO Target from $12 to $20 (Streetinsider)