During the Web 2.0 conference held in San Francisco this week, MySpace CEO Chris DeWolfe suggested that Social networking site MySpace might be working on its very own MP3 player. DeWolfe, who admitted that a MP3 could soon be released, held talks with Warner Music Group CEO Edgar Bronfman Jr.

The possibility of working on Mp3 player was not directly specified by DeWolfe, but it was neither denied.

DeWolfe said, "For now, we are much more focused on the service. But, if anything, we'll be accretive to iPod sales, unless we develop a device."

MySpace, well known Social networking site, has exceeded beyond the classic features and now revolves around music as well.