MySpace debuts online music store

04/3/2008 | NYTimes.com · Google · Wall Street Journal, The

MySpace on Thursday officially announced plans to launch a digital music service designed to rival top online music retailer iTunes. The News Corp-owned social network has teamed up with leading record companies Sony BMG Music Entertainment, Universal Music Group and Warner Music Group for its MySpace Music venture. Industry observers predict MySpace will spend around $50 million to $100 million on the project over five years.

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