Today blogosphere is full of posts related to the drop in PageRank to the major sites and blogs. Everyone is speculating that it is because of the paid links and Techcrunch says that network blogs also got hit because of this update.
I used to run TLA ads in this blog, but removed few weeks back. My other sites got effected with this update 2 PR 5 sites went down to PR3 and one PR4 went down to PR2. I suspect this is all because of the TLA ads.
Popular Blogs effected with this update are Problogger.net, Copyblogger, Quickonlinetips, Engadget, Downloadsquad.
Andybeard is compiling a list of sites got effected with this update.

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Oh..I didnt know that you had other site? Which are those?
@Nirmal
. One of my site which hit by this update is http://www.desiblogs.org , it was PR5 before
Yes i am a webmaster for a bunch of sites. I am also an Editor for a small upcoming media site.
good thing i didnt put the text links in my site, was about to do it.
Oh desiblogs.org is yours :O
Yep it is mine