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Reuters is reporting that MySpace, the social networking company owned by Rupert Murdoch‘s News Corp, may soon design and sell a digital music player in direct competition with Apple’s iPod.

MySpace co-founder and Chief Executive Chris DeWolfe said at a conference in San Francisco on Thursday said that there are no immediate plans to manufacture such a device.

“It’s possible” that MySpace, which recently launched a music joint venture with major music labels, could eventually build a device for listening to music, DeWolfe said in response to a question from conference host John Battelle, according to the report. “Right now, we’re just focusing on the service.”