NEW YORK (TheStreet) - News Corp. (NWS) is talking to Google (GOOG), Microsoft (MSFT) and Yahoo! (YHOO) about replacing MySpace's search-advertising partnership with Google, which expires next month, the Wall Street Journal reports.
Under the current deal, Google agreed to make up to $900 million in guaranteed payments for the right to sell small ads on MySpace.com and other News Corp. Web sites.
But recently, the Journal reports, MySpace has fallen short of Web traffic and other milestones laid out in the Google contract, which expires at the end of next month.
News Corp. in recent weeks has been discussing new, narrower advertising deals with Google and other companies, said people familiar with the matter, the Journal says.Any new agreement that News Corp. reaches will be for significantly less money, people close to the company said. That would be a further financial challenge for MySpace, which has seen ad revenue slip, the newspaper notes. -- Written by Joseph Woelfel in New York. Get more stock ideas and investing advice on our sister site, Stockpickr.com.
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