Since day one Facebook had been a threat and a challenge for other social networking sites. With its arrival many networking sites have lost their market share. Same is the case with MySpace. MySpace has realized that it cant win the battle hence, so they decided to team up with Facebook.
But here an interesting element is that MySpace has not been acquired by Facebook, but they have introduced a new feature called Mashup with Fcaebook.
This new features will allow the MySpace users to import their likes on facebook as well as interests to their MySpace stream.
New users interested in joining MySpace can simply click on Mashup with Facebook button and create a basic MySpace Profile almost immediately because some of their data will be imported right away.