AdAge reports that MySpace is considering the launch of a dead-tree magazine, in an attempt to extend the MySpace brand. A traditional magazine would certainly provide the comfort-zone that potential avertisers on MySpace are craving for – unlike the user-generated content that fuels the social networking website, the content in a traditional magazine can be highly controlled. Brands needn’t fear what they may be associated with.

The editorial mix would likely cover standout MySpace members and their interests, from music to their social scenes.

The blogosphere is divided on whether launching a magazine would be a sensible business move, and an executive ‘privy to the discussions’ conceded that, done badly, it could in fact “hurt the brand” (see the Valleywag alternative front cover mock-up).

Meanwhile, Chris Pearson suggests that a TechCrunch magazine would be a better proposition. Of course during the bubble, many dot coms launched magazines, and we all know what happened next.