Google agrees to pay out $900m over three and half years for exclusive search and advertising rights to MySpace and other News Corp Internet properties.
According to the New York Times media blog, the deal prompted News Corp’s President Peter Chernin to claim that, “In one fell swoop, we have paid for two-thirds of our Internet acquisitions.”
News Corp paid $649m for MySpace last year and has spent a total of $1.3bn so far on Internet companies.
Other media companies are following their lead. The Financial Times today reports that MTV-owner Viacom is in the frame to buy MySpace rival Bebo and the company has also been linked with a bid for college student site Facebook. The social networking trend also continues to explode with the latest Bright Idea being a site for the older generation. The founder of Internet job site (and dotcom survival story) Monster.com, Jeff Taylor, launched Eons.com earlier this month for the 50-plus crowd. The site comes complete with an obituary alert…
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