1. The site must contain great and original content and be able to generate good traffic from US, UK and Canada.
2. The site must update very often and strictly follow copyright guidelines.
3. The sites meant for advertising are not allowed.
4. The sites which encourage hatred speeches, racism, drugs, pornography, piracy, warez and any illegal content would be disapproved.
5. The sites should not encourage invalid clicks to generate traffic.
6. Media.net won’t approve the sites which are under construction, free hosted and parked.
Payment
Media.net pays its publishers on net 30 basis via wire transfer or paypal. The threshold amount is $100.
Advantages
1. The RPM (Revenue Per 1000 Impressions) is very high when compared to other ad networks.
2. The publishers can run Media.net ads along with Adsense on their sites.
3. The customer support team is very helpful and you can get the prompt response from them.
4. The advertisements are highly targeted, performance based and relevant to the niche of the website.
Disadvantages
1. The publisher needs to apply for each site separately unlike Google Adsense which requires only one time approval.
2. Media.net doesn’t reveal CPC (Cost Per Click) and CTR (Click Through Ratio) statistics.
3. Media.net won’t approve Non-English websites to take part in the publisher program.
To join the publisher program go to http://contextualads.yahoo.net and click Request An Invite.
Final Conclusion: Media.net is the great alternative to Google Adsense.

http://www.way2earning.com/2013/02/make-money-with-medianet/