San Francisco - MySpace (NYSE: NWS) will launch its music service joint venture with three of the four major record labels in September, CEO Chris DeWolfe told reporters at the Fortune Brainstorm conference yesterday, TechCrunch reported.

The service will combine a music download store and a subscription service that will offer free, full-track streaming supported by advertising.

DeWolfe told TechCrunch that some "eight-figure" ad deals are being negotiated.

So far, EMI has not yet signed on to support MySpace Music, which also has yet to announce the appointment of a chief executive.

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