Soon everyone will know what everyone else is doing -- online. Borrowing a page from its chief rival, MySpace has said it plans to offer Facebook-style "news feeds."

"The concept of a news feed is something we are very focused on, and we'll be well down the path in the next 30 to 45 days," Fox Interactive Media President Peter Levinsohn said.

News feeds, which update users about actions taken by their friends, were a cause of some controversy at Facebook when the product launched last year, with some users expressing concerns about their privacy. 

MySpace's decision to launch the feature highlights growing competition with Facebook, which continues to close the gap with the No. 1 social network.