It takes some effort to keep up with Photobucket and MySpace. Back in the beginning of April, Photobucket and MySpace were feuding for a second time (first time in 2007) after MySpace blocked Photobucket videos and video remixes from displaying on MySpace profiles. Two weeks after that, they were friends again, and now the latest news is that MySpace has decided to acquire Photobucket.

This puts a whole new meaning to the saying “if you can’t beat them, join them.” Photobucket has been very successful with their media services, and clearly MySpace didn’t want them taking over their turf.

Valleywag is reporting that this announcement could come as soon as this morning, and no financial details have slipped out.  Photobucket founders were originally seeking at least $300 million for the services that exploded into popularity with the help of social networks.

As much as MySpace was probably hoping they could live without Photobucket, they couldn’t.

Source: Valleywag [via Mashable]