MySpace partners with 3 majors for new music site

The battle between the 3 majors leaders Universal Music Group, Sony BMG and Warner Music Group and the music site MySpace ended.
They will launch an online music venture “MySpace Music” designed to turn the social networking site’s trove of musician profile pages into portals for selling everything from concert tickets and band merchandise to the music itself. This is the new music industry business model.
What will happen exactly?
MySpace will enable artists to sell music downloads, concert tickets, merchandise such as t-shirts through their profile pages and ringtones through News Corp’s Jamba mobile service unit (which owns MySpace).
Fans also will be able stream audio and video for free through the profile pages.