Facebook to launch musical rival to Myspace?

Rumour that social network will team up with iTunes

Rumours are spreading around the internet that Facebook may launch an artist platform that will compete with Myspace.

The plan is to include an iTunes integration for buying music through Apple’s store, special profiles for bands and unique widgets for music promotion and tour dates all within the Facebook interface, reports internet blog Valleywag.

However, the plans are far from certain, with counter-rumours circulating that Facebook is in fact planning to launch a competitor to iTunes.