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MySpace Likely to Buy iLike for $13.5 Million

It seems that MySpace is not planning to just sit and watch the ridiculous growth of Facebook in the U.S. and other countries. It made its intentions clear when it proposed to buy iLike, the popular social music recommendation service that has around 50 million registered users, reported various news sites.

MySpace, which is already the most popular social network for music buffs and bands is aiming to strengthen its position in the music space by acquiring iLike.

Kara Swisher from WSJ reported that iLike's board plans to meet tonight to discuss MySpace's offer of $13.5 million in cash and another $6 million which MySpace intends to pay later to retain high profile employees.

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