MySpace, the News Corp owned social networking website, has announced that MySpace Music has completed the acquisition of Imeem, an online music sharing service.
The company said in a press release that it has finalised a deal to acquire certain assets of imeem and the press release mentioned that “In the coming weeks, our team will be working as quickly as possible to take aspects of imeem that users love and migrate them to MySpace Music.”
However, it seems that MySpace Music has totally scraped the newly acquired website as both imeem.com and ‘my personal imeem profile’ are redirecting to MySpace Music after the deal, worth around $1 million went through.
The company has also announced on the post that it will incorporate imeem playlists that its users have created into MySpace Music, “as quickly as possible”. Interestingly, the iPhone app for imeem is still up for grabs on the iTunes store, but then again, it probably won’t work.
Tech experts believe that the reason because MySpace music has scraped imeem is that imeem had lots of digital content which was not licensed properly, whereas MySpace Music claims that its content is "fully licensed”.
MySpace Music has also announced that imeem CEO Dalton Caldwell, CTO Bryan Berg, COO Ali Aydar and VP of Sales David Wade will be coming on-board as consultants during the integration process.
Why did Myspace buy Imeem if it decided to close it immediately afterwards? Did Imeem have too many illegal downloads that would have put Myspace in a rather uncomfortable situation? The acquisition of Imeem by Myspace comes a few months after the social networking website purchased iLike.
(The Washington Post)