Networks and media companies are inking deals left and right for location-based services like MyTown, FourSquare and GoWalla. Travel Channel has already found early success with its MyTown application to the tune of 17 million check-ins in one month, while FourSquare has already struck partnerships with media companies such as HBO, Warner Brothers, MTV and Bravo. But the location-based services business faces challenges in winning ad dollars as detailed in this week’s New Media Minute. For everything you need to know about this burgeoning new media market, check out Daisy Whitney’s latest New Media Minute episode.