For networks that support a lot of MySpace traffic, your network load is about to get a little heavier. MySpace.com has announced plans to add Facebook-like news feeds for each MySpace user. The company estimates that the News Feed service should be up and running within the next four to six weeks.

Facebook newsfeeds provide updates to subscribers' associates. MySpace will also allow its users to develop profiles for different acquaintance groups. For example, a user could have family, friends or work-related profiles that would control the information that visitors see.

MySpace has recently joined the Google OpenSocial platform and has also implemented a targeted advertising program to its members. While MySpace remains the largest social networking site on the Internet, it has been feeling competitive pressures from Facebook, Plaxo Pulse and others, who have been viewed as being more innovative than MySpace.