Google signs $900m deal with MySpace
Google has beaten Microsoft and Yahoo! to the contract to supply search services for the News Corporation-owned social networking site MySpace, in a deal worth at least $900 million.
Google will now be the exclusive provider of search and keyword
advertising across the Fox Interactive Media network through its AdSense
program. It will also have a right of first refusal on display
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will pay Fox a share of the revenue it earns from selling ads on to the
sites over the period from 2007 to 2010.
Peter Chernin, the president and chief operating officer at News Corp,
hinted at further deals between the two companies. He said: "This is the
first of many steps we plan to take with Google."
Separately, Google also signed a deal this week with MTV Networks, a
division of Viacom, to trial the distribution of its TV content over the
internet. Google will now supply ad-supported clips of shows such as
SpongeBob SquarePants and the MTV Video Music Awards via its AdSense
network.
Tom Freston, the president and chief executive of Viacom, said:
"Collaborating with Google gives us an opportunity to take our content
and distribute it even more widely on the web."
Analysts upgraded Google stock from "hold" to "buy" on news of the deal.
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