Here’s something new that I came across. Looks like the concept has been there for quite sometime on the blogosphere, but somehow I seem to have to missed it

Concept is the Book tour: Book Tour consists of an author “stopping” at a given number of websites in a given about of time, the same as they would do at bookstores during a real world tour. At these stops, the author may be interviewed, may take over the site for a day and blog themselves, may answer questions from readers, get their book reviewed or do all four.

A few sites which are carry out this concept:
The Virtual Book tour
Business Blog Book Tour

Another interesting development which I missed out is a person taking the responsibility of posting a list of interesting entries in a particular week.
A site by name Carnival of Capitalist lists out the sites on a weekly basis , the people who would host the CoC and provide the readers with a list of interesting articles.