Facebook and MySpace to announce joint pact to take over the world

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Facebook vs. MySpace

MySpace is set to admit defeat today and announce it is partnering with Facebook — sort of.

According to rumor, the deal allows Facebook users to log in to MySpace and Facebook to stream some of MySpace's music content, moves that seem likely to only weaken MySpace's market share.

HypeBot has the most succinct report on this (unconfirmed) press conference:

MySpace and Facebook will make a major joint announcement at Noon PST today according to a press invitation sent last night.  Mike Jones, CEO of MySpace, and Dan Rose, VP of partnerships and platform marketing for Facebook will be handling the presentation, but no other details were offered. Several sources are pointing towards increased integration between the two services.

When was the last time you logged into MySpace? And would you ever use your Facebook account to go on MySpace? For me, the only reason to go there is to listen to a band's mp3 file, something you could already do without logging in.