MySpace on Thursday announced that Google will continue to power advertising and search at the online social network under pressure to improve its financial performance. Myspace and Google announced a multi-year agreement to renew and expand their long-standing search and advertising relationship. Under the terms of the new agreement, Google will continue to power Myspace search and search advertising and will also provide additional display advertising services.

Tthe agreement provides Myspace with web search and search advertising as well as full display ad solutions (including participating in the Google Display Network and DoubleClick Ad Exchange)

"We're excited to deepen our partnership with one of the largest social Web properties in the world, MySpace," said Google vice president of global media and platforms Henrique de Castro.

"We're pleased that our technology will benefit MySpace's users on its newly redesigned site, and that MySpace has chosen our display advertising solution to increase its returns."