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MySpace May Look To Acquire imeem In Order To Bolster Its Music Offerings

If rumors are to be believed then, MySpace, a unit of media giant News Corp. is firming up its plan to acquire imeem, a free online music service, in a bid to expand its MySpace Music service which allows users to create a profile, and can recommend music to others or find out what they're listening to just like imeem.

Imeem, which reportedly has over 4.5 million users, has been sued by The Orchard Enterprise, a large independent label and has been asked to pay $150,000 per infringement, with the total amount of the lawsuit breaching the billion mark. The company was also sued earlier by Warner Brothers but it got out of it by giving up a part of its equity.

The deal with MySpace, if it goes through, will give the company a chance of getting rid of its debts. It has been reported that MySpace has struck a deal which will waiver some of the lawsuit against imeem. MySpace recently bought music recommendation service iLike for $20 million and gave the founding Partovi brothers new executive roles.

Imeem started to sink in debt when back in September 2009, one of its most major backers decided to stop funding the website which relied heavily on revenues from advertisements.

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.