Microsoft has signed an aggreement with Digg.com to manage Digg’s online advertising inventory. The initial agreement will last three years and is being called a “three-year collaboration”.

As part of the agreement, Digg and Microsoft will collaborate to bring what they’re calling “relevant advertising” to the Digg.com site. Digg now runs the Google AdSense program and thus runs ads from advertisers who use Google’s AdWords program.

Microsoft will be the exclusive provider of display and contextual advertising on the Digg.com site. Microsoft and Digg have also agreed to work together on future technology and advertising initiatives.

Microsoft and Federated Media Publishing, Digg’s current advertising partner, plan work together to “bring integrated programs to Digg’s users and advertisers”, according to today’s announcement.

Founded in 2004, Digg has quickly become a leading destination for people to discover and share the best content on the internet. From the largest online destinations to the most obscure blog, Digg surfaces the best content as voted on by users.

There are a lot of other sites talking about this new advertising agreement between Microsoft and Digg, including:

Microsoft to handle ads for Digg
Digg Goes with Microsoft for Ads
Digg Buries Google AdSense For Microsoft Ads
Microsoft and Digg Sign Ad Deal, Acquisition Mentioned
Microsoft Signs Digg To Exclusive Display, Contextual Ad Deal …
Digg Dumps Google in Favor of 3-Year Microsoft Deal
Digg and Microsoft, Sittin’ In a Tree, ADVERTISING
Digg + Microsoft = $ ?
Digg to get Microsoft powered ads and an Images section
Microsoft Now Selling Digg’s Ads
Digg’s New Ad Provider? Microsoft