The Wall Street Journal, owned by News Corp the parent company of news.com.au, which also owns MySpace, reported that the new MySpace privacy controls would take effect in the coming weeks.
The Journal said the new controls give users the option to select one privacy setting for all of the information in their profiles such as their user name, their birthday, their interests or photos.
It said users will have the option of making their profile public to only their MySpace friends, any MySpace users over the age of 18, or everyone.
"Given all the noise in the industry, we want to get out and state a clear position so that our users understand that we take privacy very seriously," MySpace co-president Mike Jones told the Journal.
MySpace has been eclipsed by Facebook as the world's most popular social networking site and has undergone some turmoil recently with chief executive Owen Van Natta stepping down in February less than a year after being named to the job.