MySpace-iMeem Deal: Not So Fast

iMeemLogo.jpgUPDATE: MySpace announced later Tuesday that its deal to acquire music-streaming service iMeem is now complete, after issues involving leased servers (see below) were worked out, TechCrunch reported.

According to TechCrunch, iMeem founder Dalton Caldwell, chief technology officer Brian Berg, chief operating officer Ali Aydar and vice president of sales David Wade will oversee the transition on a consulting basis, and the fate of other iMeem employees was not yet clear.

MySpace’s acquisition of music-streaming service iMeem, which was reported as a done deal Nov. 19, is apparently not quite done.

TechCrunch reported that the deal has yet to officially close, with the major sticking point being that some of the assets MySpace thought it was acquiring, such as hundreds of servers, were being leased my iMeem, so the social-networking site can’t buy them.

Sources told TechCrunch a deal is still likely.