MySpace confirms it's acquiring iLike

Social networking giant MySpace has today confirmed in a conference call it is acquiring music sharing site iLike, but won't disclose any financials of the deal.

As MySpace continues to restructure in a bid to become profitable and maintain its worldwide popularity against competitor Facebook, it has today announced that iLike will soon be under the MySpace brand.

“People want to interact in many places. We will take that strategy and apply it across the Web,”

New MySpace CEO Owen Van Natta told TechCrunch.

We believe that what iLike has created is not limited to music, can be extended to video and games. Because we see it as bigger than music, we are making this apart from MySpace Music.

iLike allows users to download and share music and integrates with users Facebook profiles allowing them to play music on their main profile page. It's believed MySpace will be quick to integrate iLike into its offerings although it has made it clear that iLike features won't be integrated into MySpace Music. It remains to be seen just how competitor Facebook will react to the acquisition given that iLike is heavily integrated into the site. TechCrunch believes the deal was worth $20 million, but neither side will confirm or deny the claims.