Networking site MySpace is to launch an online music service in partnership with three major music companies.

The new service MySpace Music is being launched with Universal Music, Sony BMG Music and Warner Music.

Users of the new service will be able to listen to music and watch music videos free of charge, while paying a fee to download music.

The website will also make money from advertising and selling merchandise like ring tones and concert tickets.

However, the exact terms of News Corp 'in secret Yahoo talks' ...
MySpace opens door to developers ...
Apple to cut UK download prices ... the deal were not disclosed.

The one major record firm excluded from the partnership was EMI.

(BBC)

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