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After much hype and buzz, MySpace Music is set to debut sometime next week, reports Reuters.

MySpace Music boasts catalog deals with parent company News Corp., Sony BMG, Universal Music Group and Warner Music Group — all stakeholders in the service. EMI is the biggest omission from the list. There is no currently word on whether it will join its fellow Big Four labels in the future.

The service will be integrated into the MySpace community and offer members streaming or downloadable music, as well as ringtones and merchandise like concert tickets.

MySpace has yet to officially announce the debut or set a formal launch date. This is allegedly because of a pending lawsuit from Universal Music Group over copyright infringement.

Since MySpace first announced news of an upcoming music service in February, rival Facebook has launched its own music service in tangent with iTunes.