MySpace's Chris DeWolfe Out as CEO


MySpace co-founder and CEO Chris DeWolfe is being forced out as part of a major management shakeup at the News Corp.-owned social networking behemoth.

The decision to remove DeWolfe comes just a few weeks after former AOL CEO Jonathan Miller was named News Corp.’s new chief digital officer. It has been rumored that Miller was being brought on to significantly reshape News. Corp.’s digital businesses, in particular MySpace, which has seen its once rapid growth decelerate, while falling behind in the all-important social networking buzz race to Facebook and most recently Twitter. Plus, under DeWolfe’s leadership, the site has continued to struggle monetizing its vast amounts of inventory.

A replacement for DeWolfe has yet to be named.

In announcing the decision, News Corp. executives said that his DeWolfe’s expiring contract was simply not being renewed, though he will continue to act as strategic advisor to the company.

However, the future of MySpace president and co-founder Tom Anderson—the man who automatically becomes the first friend of anyone who becomes a member of the site--is uncertain at this time. Officials would only say that Anderson will be assuming a new role in the organization shortly.

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