Will MySpace replace traditional record labels? Probably not but there is an interesting experiment planned next year with the release of Pennywise's new album.

Reuters - After more than 15 years on Epitaph, punk troupe Pennywise has left the label for different, digital pastures. The veteran foursome has inked with MySpace Records for its as-yet-untitled ninth full-length effort, and teamed with the social networking site to offer the album to fans for free.

Will MySpace replace traditional record labels? Probably not but there is an interesting experiment planned next year with the release of Pennywise's new album.

In a recent interview at the Warped Tour, Fletcher, guitarist of long-running Epitaph act Pennywise gave a brief update on plans for a new full length from the band. According to Fletcher, the band has approximately 60 new songs and will spend the fall "arguing" over which thirteen to include on a new album. Though the plans are tentative right ...