09:21 | Thursday November 18, 2010
Facebook and Myspace are expected to announce a major partnership later today (Thursday November 18).
Suggestions of a merger have been ruled out, but it is speculated that Myspace will embrace the Facebook Connect technology. Last month, Myspace unveiled its new-look service which places a new emphasis on social/entertainment discovery and recommendation, although music will remain a core part of its offering.
Myspace Music president Courtney Holt told Music Week at the time that the company saw its future in opening its API to work more closely with third-party sites.
“We are open to working with anyone,” he said. “We have this aggregate audience and this is a place where people and even brands can get celebrated. We add value to lots of different things and lots of different constituents that are trying to take this disparate audience and aggregate them around core elements. You will see a lot more partnerships as they work for both sides.”
At the start of October, News Corp (Myspace's parent company) revealed that losses in the corporate division that houses Myspace grew from $30m (£18.8m) last year to $156m (£98.1m).
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