Sony will launch its own digital music service (http://news.com.com/2100-1027_3-5071475.html) next year, in a project that will see its music, movie and electronics divisions work closely together, the company said Thursday.

On a related note, Universal Music Group earlier this week announced they will be slashing CD prices (http://news.com.com/2100-1027_3-5071138.html?tag=fd_top), reducing suggested retail pricing for music CDs to $13, from between $17 and $19.