Tuesday, August 8, 2006
MySpace, Google Ink Advertising Deal Worth $900M
Fox Interactive Media announced yesterday afternoon that it has entered into a multi-year search technology and services agreement with Google, where Google will be the exclusive search and keyword targeted advertising sales provider for MySpace and Fox's other web properties. The deal is worth $900M or more to Fox. Fox, which is a division of News Corporation, said that Google will power the web, vertical, and site specific search for MySpace.com and the majority of Fox Interactive Media properties. Advertising will be drawn from Google's popular AdSense program. Fox also said that Google will have the right of first refusal on display advertising sold through third parties on Fox Interactive Media's network. According to Fox, Google will be obligated to make guaranteed minimum revenue share payments to Fox Interactive Media worth $900M, based on certain traffic and other commitments, from first quarter 2007 until second quarter 2010.