Shhh, don't tell anyone, but it looks like John Battelle (founder of The Industry Standard) is trying to launch some kind of blog media venture called FM Publishing. (The "FM" stands for "Federated Media," not for "Frequency Modulation") Anyway, Alarm:Clock is calling it a "stealth sister-site to John Battelle's SearchBlog." The new media company has been so stealthy, in fact, that the venture has "gone largely un-noticed in the blogosphere."

Here's one guess: the company will remain in super-stealth mode until Battelle finishes his long-awaited and oft-promised book on Google.