Google Deal Will Give News Corp. Huge Payoff

GOOGLE DEAL WILL GIVE NEWS CORP HUGE PAYOFF
[SOURCE: New York Times, AUTHOR: Saul Hansell]
"In one fell swoop, we have paid for two-thirds of our Internet acquisitions," Peter Chernin, News Corp's President, said yesterday in reference to a deal with Google that promises to pay the News Corporation a minimum of $900 million over three and half years. Google has won a bidding war to provide search services and advertising to MySpace.com, the social networking phenomenon, and other Web sites owned by the News Corporation which paid $649 million last year to buy the parent company of MySpace. It has now spent a total of $1.3 billion to buy Internet companies that also include IGN.com, a game site, and Scout, a series of local sports sites.
http://www.nytimes.com/2006/08/08/technology/08google.html
(requires registration)