Somebody get Michael Buffer, MySpace is about to throw the three search heavyweights in the ring.

garzpacho writes: “Businessweek is reporting on MySpace’s new strategy. They’re going to pit the large engines against each other in a bidding war to provide the popular social networking site with a new search engine.”

And from Businessweek:

Given MySpace’s power, Google, Yahoo!, and MSN are expected to compete fiercely for the right to be the search engine of choice for MySpace and the rest of Fox Interactive. News Corp. won’t say how much money it expects to derive from a deal, but industry experts say it could conceivably boost MySpace’s annual revenue several times over.

If you have troubles allegedly filling your ad inventory but have a ton of traffic, how do you ring the cash register? Though I’m sure they already know as a site gets more content and traffic search becomes one of the most powerful or powerless parts of a website. As long as the bidding doesn’t get too ridiculous, Microsoft should be leading the pack to get in on this one. At least they want to make it interesting enough to keep this out of Google’s paws. If it goes to Yahoo it’s a draw. In fact, I think the least of the three to benefit would be Yahoo but I suspect it will be them or Google that wins.

While I’ve not been a huge fan of MySpace I really like this move on their part. It’s smart, savvy and will benefit their users and bottom line. Who do you think will win this search war? Will it be GYM or a player to be named later?

Microsoft, dust off the checkbook. If you want to help make your Live search relevant with a younger audience (MySpace) as well as a more technical audience (the rest of Fox Interactive. News Corp.), here’s your chance.

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