Almost immediately after the deal was inked, visitors to were directed to where the service is now a part of MySpace Music, and will be yet another digital property of media mogul Rupert Murdoch’s News Corp empire.

Imeem’s executive staff, including chief executive Dalton Caldwell, chief technology officer Brian berg, chief operating officer Ali Aydar and VP of sales David Wade, will act as consultants during the transition to MySpace.  It is not known if they will occupy permanent positions once the service is fully ensconced under the News Corp / MySpace corporate umbrella.

Imeem launched in 2003 and in 2007 became the first music site to obtain licenses from all the major labels for a free, ad-supported music streaming service. Users can stream tracks from imeem’s licensed inventory or upload songs from their own collection to have streamed back to them, anytime, anywhere.

The service was also the first to introduce embeddable music. MySpace and Facebook users quickly made use of imeem’s widget to add music to their own social networking pages.

Playlists make up one of imeem’s core features. By constructing playlists based on the service’s music inventory as well as their personal libraries, users could share their lists with other users, leading to even more music discoveries.

The service also launched mobile apps for Android-based phones and Apple’s iPhone, giving users the ability to stream their personalized imeem libraries to their mobile handsets. However, the acquisition has resulted in the apps becoming inoperable until MySpace can integrate its existing music licenses to cover imeem features.

MySpace acquired imeem and its 16 million-plus user base for less than $1 million, seen by many as an indication that ad-supported music services have miles to go before becoming highly profitable businesses. Earlier this year Warner Music Group wrote off its entire $16 million investment in imeem and forgave a $4 million debt for royalties.

Private equity firm Morgenthaler Ventures was imeem’s majority owner, but the equity investors never got their money back.

“MySpace Music and imeem share a common vision and commitment to further enabling the socialization of content across the Web,” blogged MySpace CEO Owen Van Natta. “This deal will allow us to leverage imeem’s industry leading technology and, over time, meaningfully integrate their products into the MySpace Music Experience.”

Click here for imeem’s new home at MySpace.