Summary:

The speculation — and negotiations — are over. MySpace just announced the acquisition of iLike. More to come as MySpace CEO Owen Van Natta…

Hadi & Partovi

The speculation — and negotiations — are over. MySpace just announced the acquisition of iLike. More to come as MySpace CEO Owen Van Natta holds a press call but you can see the press release below. The acquisition was made by MySpace Inc. and does not include the MySpace Music joint venture. The iLike management will stay in place, including founders Ali and Hadi Partovi, with headquarters remaining in Seattle. And Van Natta promises that in the short term, at least, iLike users won’t see a difference. Some other notes from the call:

Most significant aspect: Van Natta says iLike won’t be limited to just music and will extend out to all entertainment. Van Natta later said one of the biggest ways you could see that would be extending the recommendation engine beyond music. No details.

Facebook: A non-answer from the former Facebook exec when it comes to iLike’s relationship with the rival social net. He hopes all the social networks will be excited. (Translation: The flying monkeys were really nice, gentle creatures.)

Why the delay: Van Natta says in nearly 10 years of deals this was actually one of the smoother one’s he’s been involved with — and he just gave in to TechCrunch’s desire to say (without naming names) that Kara Swisher was wrong about any delay being due to a tax issue or a canceled board meeting. (AllThingsD’s MediaMemo quickly swooped in to address that, citing a Partovi e-mail to investors at *IAC*. I’m a little confused by that since *IAC* spin-off Ticketmaster was the one with 25 percent equity in iLike and the one that took the write down, but, hey, maybe there was more. Note: The post has been updated to clarify that the e-mails were with IAC’s tax guru Greg Morrow general counsel Gregg Winiarski, who dealt with some iLike issues before the spin, and the iLike board. Some e-mails now included.)

Ticket sales: iLike is already known for ticket sales, while MySpace Music is just getting into it. “We’re going to create a better experience combined than you could see on our own.” (Translation: We’ll be using iLike to power ticket sales.)

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