Google today reached an agreement with News Corporation's Fox Interactive Media. As per the agreement, Google will be the exclusive search and keyword targeted ad sales provider for Fox Interactive Media's growing network of web properties including MySpace.com.
The pact would enable Google to provide search and advertising across Fox Interactive Media's online Network including MySpace Community. The integration of Google's services is set to begin in the fourth quarter 2006. Google will be obligated to make guaranteed minimum revenue share payments to Fox Interactive Media of $900 million based on Fox achieving certain traffic and other commitments.
"Our partnership with Google underscores News Corp's continued evolution to become a powerful force in the digital media marketplace. To have come this far and gained this much momentum in just over a year is truly remarkable," said Peter Chernin, President and Chief Operating Officer of News Corporation. "This is an exciting time in our history as a forward thinking media company and this is just the first of many steps we plan to take with Google. We look forward to expanding our relationship into many new areas over years to come."
Eric Schmidt, Chief Executive Officer of Google says, "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."
Google integration in addition to MySpace.com includes top ranked online videogame and entertainment site IGN, dynamic collegiate and pro sports network Scout.com, leading site for movie lovers Rottentomatoes.com among others.