According to news source MP3.com, MySpace is looking into the possibilities of launching their own music store to rival itunes and the soon to be launched music service from Amazon.
The social network giant owned by News Corp is reportedly in talks with the four major record labels on a new ad-supported music service targeting the 70 million user strong Myspace.com. The service is likely to offer free music streaming and paid music downloading which can be played on most mp3 players.
Currently artists with own profile pages on myspace can allow users to stream their music on the site.
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