Ailing social network extends existing search agreement and will also work with Google on display.
MySpace and Google have extended their existing search partnership, through which Google powers all search functions and search advertising for the social networking site.
Additionally, MySpace will now participate in Google's Display Network and DoubleClick Ad Exchange, through which its non-premium inventory will be sold.
Commenting on the multi-year deal, for which a timeframe was not disclosed, Nada Stirratt, MySpace Chief Revenue Officer, said simply, "We look forward to participating in the Google Display Network and DoubleClick Ad Exchange to increase yield across our display ad inventory," but did not reveal whether the firm will make cuts to its sales force as a result of that decision.
MySpace recently relauched in an attempt to reposition itself as an entertainment destination, and revealed a range of new ad formats it hopes will attract interest from premium advertisers. The site has been hemorrhaging users which have been defecting to rivals such as Facebook and Twitter.
Last month, however, Chase Carey, COO of MySpace parent News Corp. said the site is being judged "in quarters, not years." According to some media reports, News Corp. has been attempting to sell the property since March.
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