MySpace has been breaking major ground lately and are about to make another major move by hooking up with Vivendi SA’s Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp. as they venture to get products directly to consumers via the social network.

MySpace will begin selling music and concert tickets as the music companies try to gain on a sagging market.

MySpace Music will be co-owned with the world’s largest record companies (listed above), but the agreement terms have not been disclosed to the public.

Hate’m or love’em, MySpace has become a major force to reckon with.

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