Acquisitions

All the talks about MySpace acquiring the music recommendation service iLike are now over. It’s official. MySpace Inc. excluding the MySpace Music joint venture concluded the deal with the iLike management. The iLike management, including founders Ali and Hadi Partovi will stay in place with headquarters remaining in Seattle. The official statement is that the users of iLike will not notice any difference in using their music recommendation service. The most significant aspect of this particular deal is that iLike will not be limited to just music and will extend out to all entertainment. Van Natta, the CEO of MySpace said that one of the biggest ways for a successful usage of this engine is if its possibility is extended beyond music. Facebook being the first social network that concluded the deal with the music recommendation service iLike didn’t comment on the updates of the situation. According to Van Natta this has been one of the smoother deals that he took! part in concealing and the long delay of ten years until its done has been proven wrong. iLike is already known for ticket sales, while MySpace is just getting into it. In MySpace Inc. they believe that iLike will enhance the ticket sales. The announcement of the discussed acquisition came on the 19th of August in Los Angeles, stating that this acquisition brings together two companies who share a common vision revolving around social discovery and distribution of quality content. “MySpace’s strengths have been a long-time source of inspiration for iLike,” said Hadi Partovi, President of iLike. “Combining MySpace’s existing platform, reach and resources with iLike’s syndication network and social discovery tools create the potential for truly exciting innovation and commerce across any vertical entertainment category – our combined assets now span all the major social networks. I’m enthusiastic about what this combination wi! ll mean for our users, artist, advertisers, and our staff. We ! are begi nning an exciting new journey together.”

by Zivka Deleva for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.