News Corp.'s Fox Interactive Media and Google Inc. said on Monday they have signed a multi-year search and advertising deal covering Fox's MySpace.com and other properties.
The agreement calls for Google to power web, vertical and site specific search for MySpace.com and the majority of Fox Interactive Media properties. Google will be the exclusive provider of text-based advertising and keyword targeted ads through its AdSense program, for inventory on Fox Interactive Media's network.
Our partnership with Google underscores News Corp's continued evolution to become a powerful force in the digital media marketplace, Peter Chernin, Chief Operating Officer of News Corp., said in a statement.
As part of the deal, Google is expected to pay Fox at least $900 million in revenue share payments based on certain traffic and other commitments promised by Fox. These guaranteed minimum revenue share payments are expected to be made over the period beginning in the first quarter of 2007 and ending in the second quarter of 2010.
MySpace.com is a widely acknowledged leader in user-generated content and incorporating search and advertising furthers our mission of making the world's information universally accessible and useful, Eric Schmidt, Chief Executive Officer of Google said in a statement.
These payments are expected to be made from the first quarter of 2007 to the second quarter of 2010.