Financial Times FT.com

MySpace buys iLike music app

By Kenneth Li in New York and David Gelles in San,Francisco

Published: August 20 2009 03:00 | Last updated: August 20 2009 03:00

News Corp's MySpace moved to bolster its entertainment offerings by purchasing iLike, a music application company that has become one of archrival Facebook's most popular services.

The deal underscores the urgency with which MySpace, bought by News Corp in 2005 for $580m, is seeking to claw back market share after losing its shine as a web phenomenon.

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