MySpace Extends Advertising Deal With Google

MOUNTAIN VIEW (AP) – MySpace says it has extended its search and advertising deal with online search leader Google for several years.

MySpace said Thursday that Google will continue to power News Corp.-owned MySpace’s search and advertising and will provide additional display advertising services. The previous ad-sharing deal between the companies expired in August and was extended for a month while they continued talks.

MySpace is not giving financial terms of the deal. But ad spending has fallen precipitously on the once-mighty online social hub in the age of Facebook and Twitter.

Research firm eMarketer estimates that worldwide ad spending on MySpace will be $297 million in 2011, down 37 percent from $470 million in 2009.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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