This information appeared in my feed reader:
“Looks like this is going to be plastered all over the internet in the next few hours. http://cache.valleywag.com/assets/resources/20070228-132956-fmconfcall.mp3 half way through Battelle annouces a deal with google and says that google takes a 15% adserving fee and then pays out 51% of the remaining 85% leaving you with ~43% net payout…..“
The source post appears to have been pulled, however, but the information is in the wild. The original conference call is still (at the time of writing) live here: http://cache.valleywag.com/assets/resources/20070228-132956-fmconfcall.mp3
The part where the details of the estimated Adsense revenue share is mentioned is slightly less than halfway through. According to the call, FM negotiated a better deal than the figures stated above (…google takes a 15% adserving fee and then pays out 51% of the remaining 85% leaving you with ~43% net payout) directly with Google.
Could just still be an estimate, of course.