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On Monday we pennyless the headlines which MySpace was in late theatre negotiations to take song use iMeem . Those negotiations have been right away concluded, we’ve listened from mixed sources, and an agreement has been signed. MySpace will take many of the resources of iMeem for a squeeze cost of around $1 million in cash. $1 million isn’t the “real” squeeze cost for the company. Some resources have been being left behind, contend the sources, together with millions of dollars in accounts receivable and a little alternative cash. All or many of these assets, and the squeeze price, will be used to compensate off a little of the debt iMeem has accumulated. About half of iMeem’s 55 employees will right away work for MySpace. The rest, we’ve heard, will be seeking for a latest job

The full story can be found on TechCrunch