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Deal pairs Google, MySpace
By ASSOCIATED PRESS
Published August 8, 2006
NEW YORK - Google Inc. reached a deal Monday with the owner of MySpace.com to share at least $900-million in advertising revenues and become the exclusive search provider for the popular social-networking site. The deal, which marries the Internet's leading search engine with the top social-networking site, means News Corp. will have essentially paid off the bulk of the $1.2-billion it spent last year to acquire MySpace and online video game company IGN Entertainment Inc. Under the multiyear deal, News Corp.'s Fox Interactive Media unit will add Google search boxes to MySpace and other sites, likely by the end of the year, and Google will provide search results and keyword ads targeted to people's search terms. Google's payments will be based on Fox achieving certain traffic and other milestones that Google expects Fox to exceed.
[Last modified August 8, 2006, 06:36:55]
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