MySpace Looking To Acquire imeem

Looks To Add imeem's Users

MYSPACE is reportedly looking to acquire the music streaming site IMEEM, two people familiar with the matter said TUESDAY to THE ASSOCIATED PRESS.

The report says negotiations are ongoing -- and any announcement of a deal is "weeks away."

A Purchase of IMEEM could be a part of an overall revamp of MYSPACE, which launched MYSPACE MUSIC in cooperation with major music labels, but has yet to gain major traction with the venture. IMEEM, writes THE AP, would add "approximately 4.5 million users, its technology and its executives, including founder/CEO DALTON CALDWELL," should the merger happen.

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