EMI to launch iTunes-rivalling download store?

Label is reportedly planning to take on iTunes and Amazon.com

Major record label EMI chiefs are reportedly planning to launch a music download service to rival iTunes and Amazon.com.

According to the Financial Times, the label is developing an online music store for EMI.com, set to launch before Christmas to sell music and video content from EMI artists.

Artists signed to EMI include Lily Allen and Coldplay.

It’s also been reported that the site will have some content available for free, although EMI declined to comment further about its plans.