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MySpace Looking for a New Ad Buddy

MySpace needs to find another company willing to pay them for the opportunity to advertise to their decreasing number of users. They need to do this at a time when their executive suite has installed a revolving door to more easily handle the traffic in and out of the offices. It also comes at a time when the best company MySpace can find itself in is in the major Internet property rehab wing with Yahoo! and Aol.

So this is not the best situation to be in especially when you had cut a deal in 2006 with Google that should have brought $900 million to MySpace during the period where Google had the advertising exclusive with them. The Wall Street Journal reports

News Corp. is in discussions with Google Inc., Microsoft Corp. and Yahoo Inc. about replacing MySpace’s crucial search-advertising partnership with Google, which expires next month, according to people familiar with the matter.

In recent weeks, News Corp. has been discussing new, narrower advertising deals with Google and other companies, said the people familiar with the matter.

People close to News Corp. said any new agreement will be for significantly less money. That would be a further financial challenge for MySpace, which has seen ad revenue slip.

Google and Yahoo declined to comment.

Now the rest of the article in the Wall Street Journal sounds like it comes from a company that owns MySpace and needs to find another advertising sucker partner. The article paints a picture of a valiant company that is doing everything to ‘capitalize’ on the apparent opening Facebook has left because of its security gaffes. It says the usual music, comedy and fashion mix will make the 35 and under crowd desire the new and improved MySpace.

Well, if you want to read the advertorial you certainly can but it is very hard to imagine MySpace once again being at the top of the social media pile. What’s your take? Is this something that will fly? Neil Young once sang that it was better to burn out than to fade away. Don’t ya wish that MySpace would take his advice?