MySpace in ad-supported music deal with Sony BMG

NEW YORK, Oct 16 (Reuters) - MySpace, the world's largest social networking site, said on Tuesday it has signed a music video licensing deal with Sony BMG Music Entertainment supported by sharing advertising revenue.

News Corp unit MySpace said the deal will enable its 70 million U.S. monthly active users to experience music videos and select audio material from Sony BMG artists.

Sony BMG is the world's second-largest music company and its roster of artists includes Britney Spears, Beyonce Knowles and Bruce Springsteen.

The companies said the content will be made available on the artists' MySpace profile pages.

Sony BMG is a joint venture between Sony Corp and Bertelsmann AG.

(Reporting by Yinka Adegoke, editing by Gerald E. McCormick) REUTERS SI KN2027