Partitioning a formatted drive to install Ubuntu?

Hey I was just curious the best way to go about this. I have 2 hard drives right now one with XP and one with Vista. I've downloaded Linux Ubuntu to check it out. Problem is both drives are formatted. My Vista hard drive has no partitions although my second 400 gig drive is split. XP is on a 127GB partition and I used the rest of space for a 244GB media storage.

I want to put Ubuntu on this partition if possible. I'm in Vista right now trying to figure out if its possible without reformatting the drive first. I have no option to extend the drive volumes since its already completely formated. I do have a shrink volume option available. Would that allow me to shrink the media drive down without loosing or needing to backup data? Then use the leftover space to install Ubuntu

Basically I'm trying to avoid reformatting either drive here. Its really no preference on where it goes unless one is easier than the other to boot from. I've got plenty of space whats the best way of going about doing this for a Tri Boot? Here is a look at the drives as they are now. Thanks for the help!

Partition.jpg
 
Thanks for the info I thought thats what it would do but didn't want to screw anything up.

Now next question since i'm installing it on a partition off XP how will that work? Normally when I want to boot into XP I just hit escape at the bios screen and boot from the hard drive with XP. Now if its on a partition off XP will it give a dual boot load screen then when I select to boot off that drive?
 
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