A method and system to operate an Internet-based exchange that offers commoditized Ad Media. The system receives the identity of Ad Media from a publisher, automatically classifies the Ad Media so as to associate the classified Ad Media with other like Ad Media and groups the associated Ad Media into buckets forming a commoditized Ad Media, which is offered for purchase or sale over the Internet as tradable units on the exchange. The system includes a media ownership rules module, containing business rules, in communication with a media trades record module containing records of ownership interests, a classification module, an ad server registry module containing configuration information specific to a plurality of ad servers, and a tag routing module that receives ad requests for advertisements from an Internet browser and forwards the ad requests back to the Internet browser for rerouting to an ad server.