MySpace.com said Friday that it is launching a tool that promises to protect copyright holders on the popular social networking site.

The tool is currently being tested by FOX and Major League Baseball’s Advanced Media and will be expanded to include other verified copyright holders, MySpace.com said.

The new tool will allow copyright holders to “flag” any user-posted video containing content that they own and allege is unauthorized and will prompt MySpace to remove the content. The tool also has features that will bar content from being reposted by the originator or other users as well; according to the Santa Monica-based Web site, which is owned by News Corp.

“MySpace is firmly committed to protecting copyright holders’ rights,” Chris DeWolfe, chief executive and co-founder of MySpace said. “This is another important step we’re taking to ensure that those who create and own content are able to protect it.”

This announcement comes days after MySpace said it has a similar tool used to identify and remove copyright-protected music from the site.