Report Suggest Facebook Seeking a Partner for its Music Service

Popular social networking site, Facebook might soon be making an entry into the business of digital music, according to a report in the New York Post. This comes in the wake of News Corp launching MySpace Music last month.

The founder and Chief Executive of Facebook, Mark Zucherberg has reportedly been talking to several song streaming services as well as music community portals like Rhapsody.com, LaLa.com, iMeem.com and iLike.com regarding an outsourcing deal, said the Post citing sources familiar with the situation. Other Facebook executives too have been busy meeting record companies and exploring the possibilities of a tie-up. Facebook is most likely to partner with an outsider label that has all the licensing in place and the technology ready to offer a comprehensive music streaming feature across its site.

In the MySpace deal, the social networking site had traded equity in its music venture in exchange of licenses to stream ad-supported songs. However Facebook is not interested in securing licenses to distribute music or in creating a proprietary service from scratch, said the Post quoting its sources. Facebook representatives were not immediately available for comment on possibilities of a digital music venture while sources revealed to the New York Post that nothing was imminent and that Facebook may even walk away from all negotiations in the end.

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