Facebook Close To Myspace: Facebook has grown increasingly popular as it approaches Myspace numbers. MySpace claims to have about 110m active users, Facebook about 80m. Also, Facebook obtained more than 123m unique visitors in May compared with 114.6m unique visitors at MySpace. Facebook CEO Mark Zuckerberg has come under scrutiny as of late as he is facing allegations that his creation was based on ideas he stole from others.

Internet Shake-up: Hundreds of new domain names could be created by the end of the year, rising to thousands in the future according to BBC. Top level domains such as .com or .uk may be a thing of the past.

Signings: American idol winner Taylor Hicks will sign to jazz label Vanguard Records after being dropped from Sony. Oasis signed a three album deal with SonyBMG. The band will create music under their own label Big Brother Records while Sony will handle the marketing and distribution.

Recommended Listening: Everything I Ask For by The Maine. The band will release their new album titled ‘Can’t Stop, Won’t Stop’ through Fearless Records on 7/8/08.

Chairman of Live Nation Resigns: Michael Cohl has resigned as chairman of the board of Live Nation, instead Cohl will serve as a consultant to the company. Cohls exit came after a dispute with Live Nation CEO Michael Rapino who were battling the long term stratey of Live Nation’s future.

British ISPs and Music Companies Enter Talks: British ISPs and music rights holders are now engaged in serious negotiations according to Digital Music News. The British government is finally stepping in and legislators are putting pressure on ISP’s and music right holders to find a solution for the massive piracy that has victimized artists and music companies. An annual industry conference that features labels, publishers, rights societies, artists, managers were finally greeted by participating ISPs that included Tiscali, Carphone Warehouse, Virgin, and BT.

France sets date for anti-piracy law: More good news for artists and the anti-piracy front. France’s ‘three strikes and you’re out’ antipiracy law, which will knock off offenders off the Internet for up to a year, will hit the statute books early next year. P2P sites and feed Internet addresses will be monitored for thieves looking to steal movies and music. They hope this law will cut piracy by 70% to 80%.

The Orchard Aquires TVT Assets: Bankrupt indie label TVT Records has entered in an agreement with The Orchard to sell its recorded music arm according to the NY Post. ‘The Orchard will acquire the TVT catalog, its artists contacts and TVT’s physical distribution business’. The companies are hoping to seal the deal on July 3rd.