From the LJ News update:
2012: A Look Ahead
Expect to see big changes in the coming months. Over the last year we've decreased advertising across the site. We're excited to announce that by mid-2012, advertising will be phased out completely for virtually all of the LiveJournal service pages, journals, and communities that we know and love. Advertising will only be shown in select communities that opt in to displaying it (which you'll hear more about on February 15).
Found out via DW but the post in question is under f-lock, so to quote my response to it (which I think I can do, despite the f-lock?)
[...] I'm having trouble remembering now, but I think the ads were exactly why I left. (Dear God, please don't make me think about going back, whatever you do...).
gives self a second to think...
Oh, wait, that's right, it was the link-jacking that drove me away, since it was happening on my blogs, too, but that's ad-related as well...will they still link-jack?
Of course, I think they'll still link-jack. And that they're removing most ads in most places isn't exactly re-assuring. And the very thought of re-joining LJ kind of makes me sick. I'm trying to turn a new leaf, and based on my nearly-magical ability to process what little information I have and accurately apply it to the future, I think DW will turn out to be a better bet, both feature- and comfort-level wise... but *shrug* I could be wrong.