They are already the world’s largest concert promoters, they’ve branched out to form their own ticketing service and record labels, and now Live Nation will seek to challenge iTunes’ digital music dominance by launching their own music service through their website. Live Nation — home of Jay-Z, Madonna, Shakira and many more — has agreed to terms with three of the four major labels to sell DRM-free MP3s on their website (Warner Music is the lone holdout). The company plans to offer the tracks through the artist pages, much like the blueprint of the upstart MySpace Music. The exact launch date of Live Nation’s digital music catalog has not yet been announced.

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