Google is rumoured to be cutting the value of its USD300m MySpace ad deal, which expires next year, to as little as USD50m a year. This could severely impact upon the News Corp-owned network, as revenues from the Google deal are currently keeping MySpace profitable.
TechCrunch reports that Google’s data on the value of the three-year ad deal indicates it is not worth as much as originally thought. The news comes as MySpace is haemorrhaging users and seeing page views on the network fall rapidly.
News Corp is rumoured to be bringing in EVP Mike Lang to handle the negotiations.
StrategyEye's related categories: Advertising Delivery - Internet, Social Networks - Consumer
StrategyEye's related companies: News Corporation, Google, MySpace
