Rupert Murdoch's acquisition of MySpace now looks smarter, but I'm not sure what this means for Google, strategically...
The deal is also a huge financial win for News Corp., which bought MySpace last year just as the social-networking site was surging in popularity. Under the terms of the agreement, Google promises to pay the media titan a minimum of $900 million in cash between 2007 and the second quarter of 2010, contingent on certain Web traffic thresholds being met by MySpace and several other Web sites owned by News Corp.'s fledging Fox Interactive Media division. The deal doesn't cover FoxSports.com, which has a pre-existing relationship with Microsoft.
Source: WSJ.com - Google Lands MySpace Search-Advertising Pact
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