MySpace integrates with Facebook, ending social networking wars

In what can be seen as final capitulation to its now much larger rival, MySpace and Facebook announced Thursday afternoon that MySpace would employ Facebook Connect across its site. The change effectively ends what had been a years-long battle for dominance between the two companies.

Called Mashup with Facebook, the partnership means that the recently announced entertainment personalization features would now be powered by publicly available information from the user's profile. Users will also be able to connect their status updates together, allowing Facebook statuses to show up on MySpace.

The Facebook "Like" button is also making an appearance: MySpace said it planned to populate the button across its entertainment pages. The functionality could indeed keep MySpace relevant -- tapping into Facebook's still growing userbase.

"We are thrilled to further our collaboration with Facebook through Mashup with Facebook," MySpace CEO Mike Jones said in a statement. "This new feature is a great illustration of our strategy around social entertainment and enabling the real-time stream."

Mashup functionality would be available worldwide immediately, the two sides said in an afternoon news conference.

While MySpace is widely credited with pioneering the social networking revolution, Facebook's meteoric rise to dominance has caused the company to lose much of its regular user base. Facebook claims about 500 million users worldwide, five times that of MySpace.

The cozying up of the two companies could also signal that parent company News Corp -- which purchased MySpace in 2005 -- may be looking to unload the company off onto a willing buyer. Facebook would certainly be the most logical, however giving the social networking side an overwhelming monopoly on the sector may give pause to regulators.