Myspace plans to solicit bids from Google, Yahoo, and Microsoft to power search on the site.

Currently, the MySpace search results are populated with ads from Yahoo Search, but those ads are served by one of Yahoo’s distributors, said a Yahoo spokesperson. “We have no direct relationship with MySpace,” the spokesperson said. It wasn’t immediately clear which company syndicates Yahoo’s ads to MySpace.

Myspace plans on having 80 percent of the site’s ad dollars come from display ads sold on a cost-per-thousand impression basis. Currently, about 20 percent of the ad dollars comes from display impressions, with the rest stemming from sales of remnant inventory.

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