Breaking news --
MySpace is buying music social networking site iLike for an undisclosed amount of cash/stock.
MySpace understands that it needs to continue to focus on music, since that has been the most promising part of its overall story, as the sheen has come off the rest of its biz (which now seems stale to most in light of the transcendence of
Facebook and others).
Likely a great result for Hadi Partovi and his brother, who started iLike not so long ago in 2006. Hadi previously worked at Microsoft as the GM of MSN Entertainment Services -- and I interacted with him during my Musicmatch days. Good guy. Congratulations!
The M&A market continues to heat up as the global economic thaw (knock on wood!) continues ...
