MySpace Music Takes On iTunes
Joint venture with record companies aims to create competition
By Rob Quinn,  Newser Staff
Posted Apr 3, 2008 2:51 PM CDT
Music is dowloaded from a computer to an iPod in this file photo. The MySpace Music joint venture between MySpace and big record companies aims to challenge the dominance of iTunes and the iPod.    (AP Photo/Jacques Brinon, file)
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(Newser) – The world of online music buying looks set for a shakeup with the launch of MySpace Music, announced today. The joint venture between MySpace and three of the big four record labels aims to compete head-to-head with iTunes, CNET News reports. Music industry bigwigs are said to have long felt that iTunes was getting too powerful.

The MySpace service is expected to be launched within months featuring songs from Warner Music, Sony BMG, and Universal Music. An insider said that EMI isn't on board yet but executives are trying to hammer out a deal. Facebook is also reportedly in talks with big record companies about starting up a similar service, but is said to be lagging months behind MySpace.