[Via- Emily Steel – WSJ.com]
“MySpace is in talks to acquire online music service iLike, according to a person familiar with the situation, as the social-networking site tries to stem steep declines in traffic and become a destination for entertainment content. The details are still being worked out, but a deal could come as early as this week, the person says. Technology blog TechCrunch reported the news earlier Monday.

iLike, run by brothers Ali and Hadi Partovi, lets users on social-networking sites share music. It was started in 2006 as an attempt to retool GarageBand.com, which had sought to create an independent music community for recording artists to promote themselves. iLike is popular on social-networking sites, including Facebook, Orkut and hi5, and says it has more than 50 million registered users. A spokeswoman for iLike declined to comment on the talks.” [Continue Reading]

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