In an earlier post we discussed the unique implications of the News Corp. (NWS) – Google (GOOG) search/advertising deal. Subsequently we have come across a slew of interesting posts on the topic that are by and large positively inclined towards the deal.

David Vise at breakingviews (via DealBook) thinks the deal is further evidence of Google’s ability to “convert traffic into ad revenue” better than its competitors. Rather than being indicative of Internet-era hype the deal is more an endorsement of both firm’s place in the firmament of the Internet.

Chad Brand at the Peridot Capitalist thinks the deal is a “win-win” proposition.

Google needs growth. MySpace needs to make some money. As a result, this deal seems like a perfect match to me.

Abbi Adest at Seeking Alpha highlights some comments made by Rupert Murdoch on the News Corp. earnings conference call. Murdoch is excited by the prospects of Fox Interactive Media.

Clearly, I’m excited about our prospects in interactive media. Previously I’d say that FOX Interactive could expect to generate at least $500 million in revenue this fiscal year. In light of our Google deal and other momentum, that should be pretty easy to reach. Other News Corp sites are generating a further 30 million unique visitors with about $100 million in revenue.

However what is good for Google is by definition bad for its competitors, like Yahoo! (YHOO). Rob Black also at Seeking Alpha sees this as an endorsement of Google’s dominance in this space, which comes at the expense of the also-rans.

The news of the deal did prompt one portfolio manager to take action. Andrew Feinberg at used the occasion of the deal to initiate a position in News Corp. stock.

The advertising deal is interesting on any number of levels. What we find interesting is that it puts a tangible value on intangible assets. Despite its success in attracting users, MySpace to-date has not been a substantial revenue generator. With this combination we will now see just how much those eyeballs really are worth.