in other social networking blog news...

From the Myspace terms of service:

"By displaying or publishing ("posting") any Content, messages, text, files, images, photos, video, sounds, profiles, works of authorship, or any other materials (collectively, "Content") on or through the Services, you hereby grant to MySpace.com, a non-exclusive, fully-paid and royalty-free, worldwide license..."

Overcompensating has more on the question, and will actually make you laugh out loud (or else)