Google (Nasdaq:GOOG) Surges on MySpace (Nasdaq:NWS) Deal

Reports that News Corp.'s MySpace (Nasdaq:NWS) has renewed their deal with Google (Nasdaq:GOOG) has pushed the share price of Google up on the day.

Not long after News Corp. acquired MySpace they made a $900 million with Google for the use of their technology for search and search advertising on the site for a 3-year period.

That deal ran out in August, but was extended while the two companies hammered out new terms.

The terms of the new deal weren't disclosed by either party, but assumptions are it probably didn't include the huge up-front payments in the original agreement.

Google was trading at $592.55, up $2.25, or 0.38 percent, as of 1:18 PM EST. News Corp. was trading at $16.22, up $0.19, or 1.19 percent.