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Falling Traffic At MySpace Will Cut $100 Million From Google Ad Payments

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Falling traffic at MySpace will cost it $100 million in payments from Google ads according to estimates offered by executives of parent company News Corp. In 2006 Google agreed pay $900 million for the exclusive right to provide search advertising to MySpace over three years based on traffic volume. “We’re still losing traffic,” admitted Chase Carey, chief operating officer of News Corp. “It’s a business in transition.”