While Facebook is busy poaching Google execs and trying to conquer the internet, MySpace is cornering the music market.

Both social networks were engaged in "preliminary" talks to sell tunes to users, but MySpace seems to have won that race when it announced Thursday it will launch its long-rumored music store in a partnership with three of the four major U.S. record labels -- Universal, Sony-BMG and Warner Music Group. The fourth label, EMI, is not on board yet, but is expected to join soon.

Almost from the start, MySpace has been a destination for users to listen to tracks from their favorite artists or discover new music, and the move further cements MySpace as the social network for music fans.

The store, known simply as MySpace Music, will launch later this year and offer both free streaming music and downloads available for purchase.