Last week, the all-new Myspace finally opened up to the public after a few-month-long beta period. Its launch, coincidentally, occurred at the same time that investor and head celebrity backer Justin Timberlake launched the new single from his upcoming album. …

The "virtual fifth label" is now friends with MySpace.  Merlin, an organization that represents independent music companies, is supposed to have signed a deal with the social network that should nicely complement MySpace’s existing partnerships with EMI, Sony, Universal, and Warner.