Pretty hands deep in
social networking coffers

MySpace has signed an agreement to license music for sale from Sony BMG, reports Mediaweek.

MySpace will begin stocking the profile pages of Sony artists with video and music offerings for distribution.

The deal allows MySpace to become an even more valued friend of the music industry, as a partner in the sanctioned download-to-own market.

Sony, for its part, gets to access MySpace's sought-after audience through the promotion MySpace has agreed upon for artist profile pages.

Revenue from the ads that appear on Sony artist pages will be split between the two parties.