August 07, 2006
Google to Pay at LEAST $900 million to News Corp.
Google announced today it will pay AT LEAST $900 million to News Corp. in the next 3 years for the right to be the search engine across News Corp.' internet sites, primarily MySpace. This is little over a year after News Corp. bought MySpace for around $600 million in July 2005. Rupert Murdoch will be now known as the "shrewd" internet investor indeed. He gets a 50% return and all he has to give up is search engine rights for a mere 3 years AND there is upside to the $900 million if MySpace growth continues. Not too shabby.
