MySpace and Google have reached an agreement to renew and expand their search and advertising partnership, which is good news for the struggling social network.

Under the terms of the deal, Google will continue to operate MySpace search and advertising and will also provide additional display advertising services to improve the entertainment content on MySpace.

“We’re excited to deepen our partnership with one of the largest social Web properties in the world, Myspace,” said Henrique de Castro, Vice President of Global Media and Platforms at Google.

“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.”

Specifically, the agreement provides Myspace with:

*Web search and search advertising

*Full display ad solutions (including participating in the Google Display Network and DoubleClick Ad Exchange)

“We’re thrilled about renewing our partnership with Google. Their best-in-class technology will continue to provide our consumers with a robust search experience,” said Nada Stirratt, Chief Revenue Officer of Myspace.

“We look forward to participating in the Google Display Network and DoubleClick Ad Exchange to increase yield across our display ad inventory.”