Getting your player ready...
LOS ANGELES — MySpace, which has lured big acts and garage bands alike to build profiles on the popular social-networking hub to attract fans, said Thursday it will turn those pages into portals for selling music, merchandise and more.
Helping back the new MySpace Music are three of the biggest recording companies — Vivendi SA’s Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp. Financial terms of the partnership were not disclosed, but each of the music companies will receive an unspecified equity stake in the new company, said Chris DeWolfe, MySpace co-founder and chief executive.
MySpace Music will roll out gradually in coming months.
