Myspace The New iTunes?
02/21/2008
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(Reuters) MySpace, the top social networking site owned by News Corp, is in talks to create an online music joint venture with the four biggest record companies, sources familiar with the discussion said on Wednesday. The talks are part of Rupert Murdoch's plans to distinguish MySpace, born as a haven for new music fans, from fast-moving rival Facebook as the premiere destination for digital media. One source familiar with the matter said MySpace has held talks with companies over the past few weeks to gauge interest in such a service, which would compete with Apple Inc's popular iTunes. - more on this story 
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