Myspace is a popular social networking site. About two years ago, it was bought by Rupert Murdoch's media empire. I don't know if it sucked before that (probably it did), but this acquisition sort of made the suckage official by instituting (as of 2006) this content ownership rule...
By displaying or publishing (”posting”) any Content, [...] you hereby grant to MySpace.com, a non-exclusive, fully-paid and royalty-free, worldwide license (with the right to sublicense through unlimited levels of sublicensees) to use, copy, modify, adapt, translate, publicly perform, publicly display, store, reproduce, transmit, and distribute such Content on and through the Services.
You think you own the content? Well, Rupert owns it too!
However, this suckage is about 10 inches of vacuum short of the most recent suck: Myspace admins just went and shut down a 35,000 member atheist and agnostic group.