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Report claims MySpace to buy iLike for $20m


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MySpace is on the verge of acquiring social music service iLike, according to reports on TechCrunch and the Wall Street Journal.The price is apparently $20 million, which would be significantly less than the $53.2 million iLike was valued at in 2006, when Ticketmaster invested in the company. If the deal goes through, it’s intriguing for several reasons.First, iLike’s big growth came from its hugely popular app on Facebook, not MySpace. Second, it’s just launched its own music download store. And third, iLike is currently big on iPhone apps, launching its own as well as more than 250 artist-focused apps.What any acquisition by MySpace will mean for these areas remains to be seen. More as the story develops.

Music Ally

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