August 8th, 2006
Categories: Brand Strategy Development, Internet Advertising
When Rupert Murdoch's News Corp. bought MySpace last year for almost $600 million, critics wondered how the company ever planned to recoup its investment on the site. Now we have the answer—it will show lots and lots of ads.
Fox Interactive Media, the online arm of News Corp., has just announced a massive deal with Google that will bring in a guaranteed minimum of $900 million over three years. As part of the deal, Google will provide search for MySpace and the other web sites that make up Fox Interactive Media—sites like IGN, Rotten Tomatoes, and Gamespy. This alone should net Google a hefty chunk of change, but the agreement goes beyond simple search.
Link: Google offers $900 million for MySpace search and advertising (Via Ars Technica )
Also: Fox: $1 billion Search Deal with Google (Via Techcrunch )
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[…] GigaOM has a good look at the reasoning behind the Fox/Google deal announced this week. Om examins the benefits to both sides while shedding some insight into the impetus for the deal in the first place. […]