MySpace and Facebook have historically been rivals, with Facebook having ousted MySpace from their spot as the top social network, but their relations have been of a friendlier nature as of late. It appears as though MySpace has effectively given up on winning the social-networking war and is instead focusing on its already strong entertainment business, which includes the market leader, MySpace Music.
The extent of MySpace's Facebook Connect integration isn't yet known, but it is expected initially to leverage MySpace's media content, like music. This news comes right on the heels ofacross all of its sites. Facebook and Google are currently battling it out for the Web identity crown. With Yahoo and MySpace out of the race, 2010 should prove to be an interesting year as Facebook and Google both try to carve out pieces of the market.