Social networking site MySpace.com has talked to several record labels about starting an online service where users can listen to music for free.

The Wall Street Journal reports that the joint venture would be ad-revenue supported and would be split between the site, which is owned by News Corp., and the record companies.

The journal said that MySpace has talked with Vivendi SA’s Universal Music Group, Warner Music Group Corp., EMI Group Ltd. and Sony BMG Music Entertainment.

Reports said that the service may be a streaming service that featured a “Buy Now” option that would allow users to purchase songs directly off the site.

However, a possible snag in the deal would be Universal Music Group’s pending copyright infringement lawsuit against MySpace, which was filed in November 2006. That would have to be settled among the labels and the site before any deal could be reached, sources said.