Stay Tuned For Major Announcement From Facebook And MySpace

The word is out: a major joint announcement between two of the biggest players in social media will take place today. Mike Jones, Myspace’s CEO, and Dan Rose, Facebook’s VP of Partnerships and Platform Marketing, will host the announcement.

Most rumors floating around the internet this morning point to MySpace integrating the Facebook login (“Facebook Connect” button), which would bring the social networking aspects of Facebook to the site. Last week, Jones told London’s Telegraph that MySpace was no longer interested in being a social network. The new vision for the beleaguered music site is to be a pure entertainment portal.

While Facebook has clearly been keen to make music an aspect of their site, companies like RootMusic have sprung up with music-specific solutions for Facebook as well. If MySpace does add Facebook Connect to their site, it’s reasonable to assume that certain aspects of MySpace content could be integrated with Facebook. If an artist was able to integrate their MySpace profile within a Facebook fan page, it wouldn’t look good for RootMusic’s BandPages, which have become popular with musicians.

The announcement is slated to go down via webcast today at 12:00 p.m. Pacific Standard Time.

Update: View an analysis of the new Myspace-Facebook partnership here.