MySpace buys iLike

Social networking giant MySpace has acquired digital service music iLike, announcing its intentions to expand the service into other areas.

iLike offers a widget that attaches to iTunes that analyses the music being played and then offers music be similar artists. It has also created a widget that is popular social networking giant Facebook.

MySpace chief executive Owen Van Natta announced the acquisition earlier this week, and said in a teleconference that the service brings with it a talented team of employees and important technology.

Additionally, the acquisition allows MySpace to move its hand into other social networks, as iLike is used in several other sites including Facebook, BeBo and Hi5.
Van Natta also said iLike could be expanded to offer concert ticket sales, saying: “You can certainly expect to see advancements in that area.”
While MySpace has lost market share to rival Facebook, it is still a major portal for musicians to host and share their music for free.