So Just What Did Microsoft Buy on Facebook?

As everyone on this planet and Mars and the former planet Pluto knows by now, Microsoft is now the "exclusive third-party advertising platform partner" for Facebook worldwide. Check out our conference call live blog and the interesting tidbits from yesterday’s call.

But just what did Microsoft buy? I was under the impression that ALL ADS on Facebook (outside of the developer platform) would go through Microsoft AdCenter. NY blogger Dean Collins disagrees and provides the following on the NY Meetup list in an email chat (read from top down):

> Hank wrote:
That said, Microsoft does look desperate. 1.6%. sheesh. Well, think of it this way:  they paid $240M for the right for them (and NOT Google) to be Facebook’s advertising partner.  Arguably not such a bad investment from that perspective.
>

> Dean wrote:
Hi David – remnant sales partner only – big difference.
>

> David Rosenstrauch wrote:
What does that mean?
>

> Dean wrote:
It means that Microsoft Ad Sales have the rights to market any banner advertisements not sold by Facebook already. Eg they get to sell left over sales spots only.
>

> David Rosenstrauch wrote:
Reference?  Everything I’ve read says that MS paid to be their "exclusive" ad partner.
>

> Dean wrote:
First 5 links of this search will give you more info than you need.
http://www.google.com/search?hl=en&q=facebook+microsoft+remnant
>

So help me out here, just what did Microsoft buy? Is it all of Facebook advertising or just a part of it? For example, will Flyers still go direct?