Several of the smartest younger minds on the right have come together to launch a new initiative
called "The Next Right" focusing on making conservatism more viable in the online space. It's supposed to be "something new on the right side of the blogosphere: an online community for change-minded activists and hardcore political junkies in the conservative movement."
It'll be interesting to see how it goes. I think that sometimes people underestimate the extent to which the left's edge in online media just follows straightforwardly from the demographic profile of the potential online audience (I think much the same can be said about the right's dominance of talk radio) and doesn't have anything to do with conservatives doing anything "wrong" as such.
This article available online at:
http://www.theatlantic.com/politics/archive/2008/05/the-next-right/44750/