Welcome Back to Advertising Sales, Mr. Gates...

It's been nearly two years since Microsoft has had a global head of advertising sales. During that time, losses at its internet division, which includes MSN, Bing and all its other ad-supported properties, ballooned to $713 million in the most recent quarter from $411 million a year ago.

Microsoft's latest executive hire, Carolyn Everson, former MTV Networks' COO and exec-VP for strategy and operations, is expected to change that. Ms. Everson has worked at Viacom since 2007, but she has an internet pedigree, having managed web operations for Primedia and Zagat, combined with cable TV experience. She also knows Microsoft, having spearheaded Viacom's $500 million multi-year advertising deal with the company at the end of 2007. Microsoft has always had an identity problem when it comes to selling advertising, but it comes to the party with a few unique advantages. It is one of few media owners of any type with a truly international footprint; it has a portal with scale, a gaming platform in Xbox, a nascent search brand in Bing and a collection of complementary online ad technologies. It is also the only global ad player that is also a huge buyer of advertising, spending close to $1 billion on measured media in the U.S. alone.