News Corp.’s MySpace to Seek Bids for Search Ads

News Corp. said My- Space.com plans to solicit bids from Microsoft Corp., Google Inc. and Yahoo Inc. to provide its popular youth-oriented network with search-based advertising, Chief Operating Officer Peter Chernin said.

News Corp. head Rupert Murdoch has said the firm is seeking to invest in the search business. News Corp. bought MySpace last year for about $580 million. It’s seen as a testing ground for new-media opportunities, particularly efforts to reap ad dollars from social networking, a hot area of growth online.