The Warner Music Group said on Tuesday that it had promoted two of its executives to vice chairmen and plans to revamp its international corporate structure.

In the next two weeks, a battered music industry, facing slumping CD sales and a bleak future, will help to introduce a new service, called MySpace Music.

The Warner Music Group reported narrower losses in the third quarter as growth in Europe helped offset a slowdown in global music sales.

The Warner Music Group suspended dividends Thursday after reporting that higher costs and a shift to digital music resulted in a wider second-quarter loss.