MySpace co-founder quits company

 

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By Reuters

Posted on 23 Apr 2009 at 10:55

MySpace chief executive Chris DeWolfe has announced he is walking away from the social network he helped create.

Speculation suggests that News Corp's recently appointed digital chief, Jonathan Miller, had been considering getting rid of DeWolfe in an effort to shakeup the social network which has begun to lose ground to Facebook.

Miller is apparently looking at replacing him with one of Facebook's top executives, possibly current chief operating officer Owen Van Natta. Van Natta did not return a telephone call seeking comment.

Miller is also reportedly in discussions with MySpace's other co-founder, Tom Anderson, about assuming a new role in the organisation.

Earlier this year, MySpace lost three executives including former chief operating officer Amit Kapur after they resigned to begin a startup company.

MySpace also has a $900 million search-advertising deal with Google that expires in June 2010. Several financial analysts say there is little chance that Google will continue its relationship with MySpace.