Highlights from Rafat Ali’s conversation with Demand Media’s Shawn Colo, Discovery’s Bruce Campbell, Associated Content’s Patrick Keane, About’s Cella Irvine, and AOL’s Marty Moe: —Gutters: Are the panel members—whose companies are sometimes referred to as “content farms”—driving the value of content to the “gutter?” Colo: No; “We’re adding value by…

So what does a five-year-old sports start-up do with $13 million in funding? Blog network SBNation is spending some of it on a new strategy that adds a layer of senior editors and a real-time, edited news stream, pulling the 212 blogs into what CEO Jim Bankoff now calls a…