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RSS"The imeem acquisition isn't yet finalized, we've heard from sources, and awaits approval from various stakeholders," report TechCrunch, which doesn't know the likely price of the acquisition.
Claiming to have confirmed the negotiations, Peter Kafka at MediaMemo says he hasn't heard a price yet either, but "I wouldn't expect much, given that this deal, like the iLike purchase MySpace made earlier this year, is an 'acqhire' -- News Corp.'s social network/portal wants to buy imeem for its 'sales team, engineering, Snocap and other Imeem IP,' a person familiar with the transaction tells me."
Why imeem? "MySpace, which spent a year or so developing MySpace Music on its own, wants more music heft," writes paidContent. "Acquiring iLike made it part of the new Google Music Search and brought in new talent ... Adding iMeem would bring more of that social element and an established user base; it had 15 million uniques in September, according to comScore."
The news comes amid speculation that MySpace Music is considering moving to a paid model, since the cost of free streaming is making its current model unsustainable, reports GigaOm. "News Corp. digital chief Jon Miller expressed some interest in such a move in an onstage interview conducted by paidContent's Rafat Ali in Monaco on Thursday, noting that he believes in the 'freemium' music model conceptually, even if a practical and sustainable version hasn't appeared yet."
In late October, MySpace chief executive Owen Van Natta told the Financial Times that the once reigning social network was no longer interested in competing with Facebook. Positioning MySpace solely as an online hub for music and entertainment, Van Natta said, "Facebook is not our competition ... We're very focused on a different space." Read the whole story at Tech Crunch et al..
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