I had touched on this subject before. And, while I was away on a boat, the news broke that Google has signed a $900 million deal with News Corp that makes Google the default search provider, and the exclusive provider of text-based and keyword ads on all Fox Interactive Media properties, including MySpace.
Given the traffic numbers, this is of course about MySpace's current dominance in online media.
The most exciting part of this deal is that it should answer all outstanding questions around value of attention, the monetization opportunities in social networking sites, and most dramatically, whether Murdoch had overpaid for MySpace.
Om Malik, as usual, has a good analysis of the deal.