Miva Won Contextual Ad Deal
Second tier PPC search engine Miva beat its contextual ad rivals Google Adsense and Yahoo! Publisher Network and signed an exclusive deal with Conde Nast UK. Miva is to display contextual ads on all 12 sites (including GQ.com and Vogue.com) belong to Conde Nast Interactive which are believed to have over 54 million impressions per month.
Experts believed Conde Nast choosing Miva over Google or Yahoo! is because Miva will be able to provide higher flexibility of customisation and relevancy of ads.
With Miva, publishers can decide whether a web page should use the contextual engine of Miva to dynamically serve ads based on the page content, or they can manually pick keywords to match text ads to content or demographics of site visitors.

In January 2007, Miva launched its contextual ad network, offering publishers the options of content-targeted ads, in-text hyperlink ads, and Miva-powered search box. Chrysi Philalithes, vice president of marketing and global communication of Miva, even mentioned Miva Monetization Center was created to provide more customisation and transparency than the larger competitors, and to give publishers a larger share of the revenue.
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I think Miva is more effective if you are targetting the European market. For US market, Google is way ahead. This geogrphical dominance might be another major reason for Conde Nast to choose miva over Google.