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MySpace To Launch Free Ad-Supported Music Site
ADOTAS — News Corp.’s MySpace is forming a joint venture with music companies to offer free music and video streaming – the gargantuan social network will fund the venture through interactive advertisements, MP3 downloads, ringtones, ticket sales and merchandise.
Vivendi’s Universal Music Group, Sony BMG Music Entertainment and Warner Music Group are minority stakeholders in the new project.
A formal launch date has not been announced.
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