A new music service jointly owned by News Corp.'s MySpace.com and three record labels will be announced Thursday, according to a source familiar with the deal.
MySpace Music has been expected for weeks and will offer streaming music, downloads of unprotected MP3s, concert tickets, ringtones, and other merchandise, the source told CNET News.com. The source added that MySpace is hopeful the service will open in the next few months.
The deal immediately catapults News Corp. Chairman Rupert Murdoch into competition with Apple CEO Steve Jobs' iTunes, which offers music and video downloads. Backers are hoping MySpace Music … Read more