Myspace and Google Reach Agreement Over Display Ad Services

A new pact has been reached between News Corp-owned Myspace and Google Inc. which will consist of a multiyear search and advertising agreement.

Included in the deal, Google will take charge of MySpace’s search results and search advertising. Additionally, Google will supply all new display ad services for the social networking site.

Previously, Google and Myspace had come to an $900 million agreement in which Google exchanged the rights for selling ads connected to its users searches on the social networking site.

Analysts have suggested that the new deal will not be as profitable, though the financial details have not been disclosed.