Last year he paid $1.2 billion for MySpace. Yesterday it was announced Google will pay News Corp. at least $900 million in shared ad revenue to be the exclusive search provider for the No. 1 social network site.
According to The AP: “News Corp.’s Fox Interactive Media unit will add Google search boxes to MySpace and other sites, likely by the end of the year, and Google will provide search results and keyword ads targeted to people’s search terms. Google will also get first rights to sell any display ads not sold by Fox directly.”
The No. 1 reason MySpace users leave the site is to search. Apparently they never heard of tabbed browsing. The Google deal means MySpace users won’t have to leave the site to search, which will boost their time on site and ad potential.
The bottom line is Rupert’s already nearly paid off the $1 billion-plus tab in a year. And the long-awaited Simpsons movie is coming out next summer. What a stud!
Via My Way News
