MySpace the popular social networking site has entered in to news aggregation business, with the name MySpace News currently in beta. According to News.com MySpace aggregates news from several sites and will allow users to rate the news unlike Digg which allow user submissions and ratings. MySpace News is expected to allow user submissions at a later stage.

Digg became famous for turning over much of the site’s editorial control to users. But unlike Digg, MySpace News won’t accept user-submitted stories–at least not initially, executives from MySpace said Wednesday.

They say that you have to be a myspace user to vote for the stories, but you can vote without being a myspace user. This may be lead to an abuse of the system by some users voting for the same story to get in to the front page. You can vote for a story number of times after clearing the cookies.

It would be good if they allow user submissions of the news stories soon.

If you want to submit your site or blog for consideration to myspace news, you can do here.