MySpace came out with a business-reviews site called MySpace Local. It’s based on listings from IAC’s pre-Web 2.0 business-reviews site CitySearch. MySpace and CitySearch will split ad revenues.
A source familiar with the deal tells us IAC agreed to a $6 million ad revenue guarantee for the privilege. Anything to stay relevant, we suppose.
Update: IAC says the $6 million figure is wrong. They wouldn’t give us a correct number. Our source is very trustworthy, so we suspect IAC may be splitting hairs.
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