MySpace Buys iLike Music Sharing Service

Confirming rumors circulating around the Web this week, MySpace said today that it would acquire iLike, a popular music application for social networks that lets users share playlists and make song recommendations.Owen Van Natta, the recently appointed chief executive of MySpace, described the purchase as part of a larger effort to restructure and refocus the company. see:MySpace buys music site iLike
News Corp’s MySpace moved to bolster its entertainment offerings by purchasing iLike, a music application company that has become one of arch-rival Facebook’s most popular services.The deal underscores the urgency with which MySpace, bought by News Corp in 2005 for $580m (£350m, €407m)), is seeking to claw back market share after losing its shine as a web phenomenom. to acquire music service
MySpace will acquire the popular music discovery service iLike that allows users listen to and share music across social networks.iLike reportedly turned down an offer from rival Facebook, where it is the top music application.The company has 55 million registered users and has been prominent on most social networks apart from MySpace. turns to music sharing service iLike
MySpace has signalled the latest attempt to turn around its struggling business by confirming the acquisition of online music discovery service iLike in a deal believed to be worth around $20m.The agreement, which had been widely trailed in reports earlier this week, was hailed by MySpace chief executive Owen Van Natta as a major part of the company’s attempt to restructure and refocus itself. sees the Lite
Things happen quickly on the internet, but even by the online world’s lightning-fast standards, the past week has been something of a whirlwind for Facebook. First it spent an estimated $50m (£30m) buying Silicon Valley startup FriendFeed, and then it struck a deal with news website the Huffington Post to create a “social news” site. Along the way it also finished a new iPhone application, a stripped-down “Lite” version and a new real-time search tool.For the staff at the company’s offices in Palo Alto, California, things must be a blur.

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