MySpace seeks online music serviceThe online social networking site is in talks with major record labels to provide users with free music, according to The Wall Street Journal.
NEW YORK (CNNMoney.com) -- Online social networking site MySpace has been talking with major record labels in an effort to allow users to listen to copyrighted music for free on the Web site, according to a report in the Wall Street Journal. The Internet site has called the potential joint-venture MySpace Music. According to the Journal, MySpace has approached Vivendi (VIVEF) SA's Universal Music Group, Warner Music Group Corp. (WMG), EMI Group Ltd. (EMIP.Y) and Sony BMG Music Entertainment, a joint venture of Sony Corp. (SNE) and Bertelsmann AG. The proposed MySpace Music reportedly will include free, streaming music supported by advertisement sales, and it will also offer paid MP3 downloads. MySpace, recently purchased by Rupert Murdoch's News Corp. (NWS, Fortune 500), has attempted to expand its position as a social networking site into an online media company. This is evidenced by reports that Murdoch was talking about buying Yahoo (YHOO, Fortune 500) and combining it with other properties that make up Fox Interactive Media, News Corp.'s online arm. MySpace has already launched online video service Hulu, a joint venture between NBC Universal and News Corp. MySpace's new ventures are perhaps part of a larger plan to distinguish itself from faster-growing competitors like Facebook and Linked-In. |
Photo Galleries
Here are some hot tips if you're going out car-shopping this weekend. More
These folks definitely do not need a bigger boat. Peek inside some of the swankiest vessels on the high seas. More
Home is wherever you want it to be. This 150-square-foot home can be shipped almost anywhere and then assembled like Ikea furniture in about four days. More
Sponsors
|
-
About CNNMoney
-
Content
-
Magazines
-
Site Tools
-
Stay Connected
.
-
About CNNMoney
-
Content
-
Magazines
-
Site Tools
-
Stay Connected
.
