Five News is teaming up with MySpace in an agreement that will allow both parties to exchange content.

MySpace members will be offered a daily co-branded news broadcast via the Five News MyspaceTV channel presented by Natasha Kaplinsky.

Members will be able to share the news clips with friends and send messages to the Five News team.

The move is widely seen as an effort by the national news broadcaster to reach an audience of younger web-obsessed viewers.

MySpace's target of audience of 16 to 34 year-olds will also be encouraged to upload their own clips for possible inclusion in Kaplinksy's broadcast, allowing Five News to use the social networking site as a news gathering source.

The announcement comes hot on the heels of ITV's deal with Bebo earlier in the week, which will see the social networking site host a range of ITV2 programmes, including Gossip Girl and Keith Lemon.