This has recently been brought to my attention... You can find the content that is quoted below by clicking "terms" on the myspace homepage and scrolling down a bit. I.e. its taken directly from the terms of use, it's not some silly paranoid internet scare tactic.

In summation, myspace/fox can use ANYTHING of yours you post to your site [music, videos, photographs, art work, etc.]. This means they can alter it, edit it, sell it, etc. WITHOUT giving you credit, giving you royalties, basically without giving you jack shit. Please be aware of this and use caution when sharing your creative works on myspace. I love being an intermanet whore like the rest of you and I adore seeing everyone's new work - but I'd hate for it to be violated and taken out from under your control by a media company that's much bigger than you.

If you think this is as frightening as I do, please repost and warn your fellow artists/friends about this. Direct quote is below.



Proprietary Rights in Content on MySpace.com.
By displaying or publishing ("posting") any Content, messages, text, files, images, photos, video, sounds, profiles, works of authorship, or any other materials (collectively, "Content") on or through the Services, you hereby grant to MySpace.com, a non-exclusive, fully-paid and royalty-free, worldwide license (with the right to sublicense through unlimited levels of sublicensees) to use, copy, modify, adapt, translate, publicly perform, publicly display, store, reproduce, transmit, and distribute such Content on and through the Services. This license will terminate at the time you remove such Content from the Services. Notwithstanding the foregoing, a back-up or residual copy of the Content posted by you may remain on the MySpace.com servers after you have removed the Content from the Services, and MySpace.com retains the rights to those copies. You represent and warrant that: (i) you own the Content posted by you on or through the Services or otherwise have the right to grant the license set forth in this section, and (ii) the posting of your Content on or through the Services does not violate the privacy rights, publicity rights, copyrights, contract rights or any other rights of any person. You agree to pay for all royalties, fees, and any other monies owing any person by reason of any Content posted by you to or through the Services.