Report: MySpace to Acquire iLike

The battle to acquire start-ups is (reportedly) on, with MySpace set to buy the music recommendation service iLike, TechCrunch reports. Multiple anonymous sources said the deal should close this week, and roughly $20 million is on the table. With Facebook acquiring Friendfeed earlier this month, and with iLike’s popularity among Facebook users, there could be an arms race in the works for these two social networking sites. This particular play seems intended to stop Facebook from gaining strength on the music front, where MySpace partly built its reputation. TechCrunch suggests that the deal doesn’t involve MySpace Music, a joint venture between the site and record labels. That’s too bad, because iLike would go great with a matching library of streaming songs. [via TechCrunch]