This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

New MySpace CEO May Be Ex-Facebook Exec

News Corp. (NWS - Get Report) was completing a deal to name former Facebook Chief Operating Officer Owen Van Natta as MySpace CEO to succeed co-founder Chris DeWolfe who is stepping down, a report says.

The decision by DeWolfe to step down was made by mutual agreement with former AOL CEO Jonathan Miller, who was appointed News Corp.'s chief digital officer April 1, News Corp. said in a statement Wednesday. The Wall Street Journal reports Van Natta would replace DeWolfe and report to Miller.

Spokeswomen for News Corp. and MySpace both declined to comment for the Journal beyond a press release. DeWolfe and Van Natta couldn't be reached for comment.

MySpace co-founder Tom Anderson also is in talks about taking a new role. Anderson is being considered for a creative product role that will take him away from his day-to-day responsibilities, said a person with knowledge of the situation, the Associated Press reports.

Miller said a new management structure will be announced soon.

Facebook lapped MySpace a year ago in overall users worldwide, and now has 200 million to MySpace's 130 million.

MySpace is still the largest social network in the United States, but membership appears to have stagnated. It had 70 million users in March, down 4% from a year ago, according to tracking firm comScore, despite the launch of the MySpace Music service in September.

Meanwhile, Facebook's users in the U.S. rose 72% in March to 61 million.

DeWolfe is expected to move onto a new startup, following the path of several executives who left MySpace last month, including former Chief Operating Officer Amit Kapur.

Copyright 2008 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
NWS $16.47 -1.50%
AAPL $128.95 -0.32%
FB $80.18 0.73%
GOOG $575.38 0.30%
TSLA $200.27 0.36%

Markets

DOW 18,102.15 -101.22 -0.56%
S&P 500 2,099.63 -8.15 -0.39%
NASDAQ 4,972.3980 -7.5030 -0.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs