Google Puts $900 million on Myspace
As part of the deal, Google will pay $900 million (£472 million) to News Corporation to provide the search technology on MySpace (and a string of other sites owned by News Corp’s Fox Interactive Media) for three years and nine months. Plus, Google will sell banner and text ads on the sprawling site, which last month was ranked as the most popular site on the web among American internet users. This recoups the $580 million (£300 million) the media company paid for MySpace last year, and makes a big dent in the $1.3 billion (£680 million) it has spent on internet acquisitions in the past year.
The deal is not a matter of money in the bank for News Corporation, though, as MySpace and the other sites, including RottenTomatoes.com and IGN.com, must achieve a string of traffic goals. Analysts have also suggested that payments will depend on ad-impression goals from MySpace users, meaning that the site’s users will have to click through to advertisers’ sites before the company sees the cash. To that end, the two firms are stressing that this is a partnership – not a straight-up investment.
[ via timesonline ]
1 Comment »
RSS feed for comments on this post.
| TrackBack URI
Like it ? You can bookmark this on del.icio.us, Y! MyWeb 2.0, Netvouz, Furl, Simpy or Spurl.
Anyone else having bother with myspace or is it just my pc?
Last couple of days it seems it wont let me download any song from anywhere.
Anyone having same bother - or anyone how to sort it?
Comment by Aden — December 1, 2006 @ 12:05 pm