MySpace working on music service

MySpace Music is the name News Corp. executives are tentatively using for a proposed music service that they are pitching to record executives, two sources told CNET News.com.

The news that News Corp., MySpace's parent company, has approached the four top music labels was first reported over the weekend by the blog PaidContent. Here are a few new details on what News Corp. is running past the music companies.

News Corp. has tested the record industry's interest in a site that would offer music in several different ways, including ad-supported downloads and streaming to PCs, according to a source with knowledge of the talks. This may be why PaidContent reported that News Corp. was proposing an ad-supported download service while the blog Silicon Alley Insider said the company was backing a streaming service.

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