Updated

News Corp. (NWS) on Tuesday said it will launch a new service to offer full episodes of its television shows on MySpace.com and the Web sites of its local Fox TV stations after they have aired.

The new service, Fox On Demand, will be advertising-supported and will offer shows such as "Prison Break," "Justice" and "Bones" on MySpace and on Web sites in 24 U.S. markets where News Corp. owns TV stations.

Television networks have raced to offer their shows online and over Apple Computer Inc.'s (AAPL) iTunes service to a new generation of viewers whose time is split between the computer, cell phone and TV screens.

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News Corp., which purchased top global social networking site MySpace last year, also aims to broaden its services. In August, News Corp.'s 20th Century Fox film studios agreed to sell movies on MySpace.

"Leveraging this unique opportunity with our sister company FOX enables us to experiment and innovate and deliver some of the most compelling video experiences online to consumers," Ross Levinsohn, Fox Interactive Media president, said in a statement.

At launch, the service will be sponsored by Toyota Motor (TM), Burger King (BKC) and Lionsgate Entertainment Corp. (LGF)

FOXNews.com is owned and operated by News Corporation, which also owns and operates MySpace.com and the FOX broadcasting network.