Giant magnetoresistance(GMR) of $Cu_{85-x}Co_{15}Ni_{x}$ melt-spu ribbons is closely correlated with the microstructure produced by the spinodal decomposition. The solid solution range is extanded by the replacement of Cu by Ni in the as-quenched state. The wavelengths obtained by subsequent isothermal aging in Cu-Co-Ni ribbons are shorter than those in Cu-Co binary ribbons, resulting in the increase of the surface-to-volume ratio. The largest MR ratio of 8 % in high field has been achieved in the $Cu_{80}Co_{15}Ni_{5}$ aged ribbon. The field dependence of MR ratio in low fields becomes larger with the Ni content.