Social media-focused blog net Federated Media’s looking for someone to take over at the top. In a vaguely worded post on FM’s official blog, John Battelle, the company’s founder and CEO, said that the company needs a new leader to move the company forward. Battelle was slightly more clear about one thing, however: he’s not leaving the business. He didn’t indicate when he came to this realization or if a change is imminent.

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The company has had some bad news lately. Earlier this month, TechCrunch’s Mike Arrington said the site had severed its relationship with FM and would manage its ad sales itself. A few months prior to that, Giga Omni Media said it would leave the FM fold. In his post, Battelle defended the company’s performance, saying FM “put nearly $25 million in the pockets of independent creators on the web.”