Google will become the exclusive search provider for Fox Interactive Media web properties, including MySpace. Google and MTV Networks are also collaborating to test an online video model to distribute advertiser supported programming from MTV to selected web publishers.

Online search leader Google has announced major deals with old media players that seem to be a win-win for all parties.

The agreement with News Corporation’s Fox Interactive Media means that Google will become the exclusive search and keyword targeted advertising provider for leading user-generated web site MySpace and the majority of the Fox online portfolio, including a number of games sites, but not, it seems, the main Fox or FoxSports properties.

Under the agreement, Google will be pay Fox a minimum of $900 million over three years, assuming that certain traffic targets are met. It could quickly repay the $580 million that News Corp paid for MySpace last year.

“Our partnership with Google underscores News Corp’s continued evolution to become a powerful force in the digital media marketplace. To have come this far and gained this much momentum in just over a year is truly remarkable,” said Peter Chernin, the president and chief operating officer of News Corporation.

Ross Levinsohn, president of Fox Interactive Media described the deal as “the next step in our evolution as a significant interactive player”.

Previously, Google announced a partnership with Viacom to distribute clips of MTV programming.

It is the first time that integrated video programming and advertising will be made available directly to the Google AdSense network, which delivers targeted text and image ads to its network of websites and blogs.

It also represents the first time clips from MTV Networks programming will be available to consumers widely across the web on an ad-supported basis on sites beyond those of MTV.

The clips will include material from MTV Laguna Beach, their Video Music Awards, and the animated Nickelodeon series SpongeBob SquarePants. The companies expect to begin test the service later in the month.

The companies also announced that hit programmes from MTV Networks will now be available for download through Google Video for $1.99 per episode.

“Collaborating with Google gives us a terrific opportunity to take our content and distribute it even more widely on the web in a seamless and targeted way,” said Tom Freston, the president and chief executive of Viacom, the parent company of MTV Networks.

For his part, Eric Schmidt, the chief executive of Google said they were excited to work with MTV Networks on new ways of distributing its content to consumers via the internet and on Google Video. “With the combination of our video technology, and extensive advertiser and publisher network, Google is in a leading position to help content owners, web publishers and advertisers generate interest and increase revenue opportunities.”