Fox Interactive Network has just signed Google to provide all paid search engine functions on all of its online properties including MySpace, thus uniting two Internet juggernauts in one massive transaction. Fox also owns Rotten Tomatoes and gaming site IGN Entertainment.
From MediaPost:
Google has agreed to pay Fox at least $900 million between the first quarter of 2007 and the second quarter of 2010, provided that the Fox sites maintain certain minimum traffic levels. Fox also will place Google search bars on every MySpace page, starting in the fourth quarter. The deal also calls for Google to provide display ads to Fox, and gives Google the right of first refusal on all display ads sold through third parties.
And here's the rub:
Previously, Yahoo powered search on MySpace.
Ooh, OUCH.
Now it's up to Google to monetize MySpace traffic — to the tune of 52.3 million unique visitors in June 2006 — while in the meantime continuing on its inevitable path to world domination. Don't believe us, believe the experts: this deal gives Google "one of the best inventory sources out there right now," accordingt to David Berkowitz, director of strategic planning for search engine marketing firm 360i and person very unfortunately sharing the same name as a notorious serial killer.
