Newspaper article from our research archive:

MySpace joins major recording labels to challenge Apple.

NEW YORK: News Corp's MySpace, the world's largest social network website, has formed an online music venture with three major recording companies in a challenge to Apple's dominant iTunes Music Store.

Vivendi's Universal Music Group, Sony BMG Music Entertainment and Warner Music Group have minority stakes in the new MySpace Music venture.

MySpace Music will offer free music and video streaming supported by advertising, paid-for MP3 downloads, ringtones for cellphones, concert ticket sales and merchandise.

Chris De Wolfe, chief executive of MySpace, said the launch date of the new service was "fluid" with commercial features being added to the site over the next ...

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