Today Google and Fox Interactive Media announced a multi-year agreement, calling for Google to provide search service and advertising across Fox’s growing online network, including MySpace.

In accordance with the terms of the agreement, Google will be the sole provider of search services and contextually target advertising on MySpace.  With over 99 million members, this represents not only a huge influx of cash for Google, but also the opportunity to put its product and brand in front of a large audience.

On the heels of the annoucement, Google’s stock rose from $371.50 per share up to $377.95 at market close.  That represents a 1.1% increase.  In after hours trading, the stock rose even more, up to $381.84, up another 1.03%.  Look for this one to fly to $400 in the near future.

Could this new deal be the beginning of GoogleSpace, the biggest cash cow to hit the net?

 

This entry was posted on Monday, August 7th, 2006 at 10:04 pm and is filed under Google, Social Networking. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.