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Edition: U.S. Article Comments (2) Save Email Print Reprints Most Popular Most Shared Euro heavy as EU disappoints, Aussie near 10-year high | Video 12:04am EST Factbox: Fashion world in shock over Alexander McQueen death 11 Feb 2010 U.S. dismisses Iranian uranium enrichment claims 11 Feb 2010 Rep Patrick Kennedy won't seek re-election: report 11 Feb 2010 UK govt forced to publish U.S. torture allegations 10 Feb 2010 Yahoo executives address "misconception" about search 11 Feb 2010 Stores looking to NY Fashion Week to lure shoppers 10 Feb 2010 MySpace CEO steps down SAN FRANCISCO Thu Feb 11, 2010 6:38am EST Related News Facebook removes Microsoft banner ads from site Fri, Feb 5 2010 Facebook may "lock in" its Internet dominance Wed, Jan 27 2010 RPT-Facebook may 'lock in' its Internet dominance Wed, Jan 27 2010 Owen Van Natta, Chief Executive Officer of MySpace.com, attends a session at the World Economic Forum (WEF) in Davos January 27, 2010. Credit: Reuters/Michael Buholzer SAN FRANCISCO (Reuters) - News Corp has replaced the CEO of the social networking site MySpace less than a year after hiring him, and said a discussion of his priorities led both sides to agree to a parting. Technology | Media Owen Van Natta, whose resignation is effective immediately, will be replaced by Mike Jones and Jason Hirschhorn as co-presidents, News Corp said on Wednesday. Van Natta could not be reached immediately for comment. News Corp acquired MySpace in 2005 for $580 million. Since the acquisition, the Internet site has lost ground to rival Facebook, which now ranks as the world's No.1 social network with roughly 400 million active users. News Corp chief Rupert Murdoch replaced MySpace co-founder Chris DeWolfe with Van Natta last year, betting that the former No. 2 executive at rival Facebook could freshen up the company. But rekindling MySpace's popularity in the fast-changing Internet world has proven challenging. And analysts have expressed doubt that MySpace will be able to renew its $300-million-a-year search advertising deal with Google Inc on similarly lucrative terms when the deal expires this year. News Corp said in its quarterly earnings call last week that advertising and search revenue declined at MySpace and that it was taking longer than expected to achieve revenue goals at MySpace. "Owen took on an incredible challenge in working to refocus and revitalize MySpace, and the business has shown very positive signs recently as a result of his dedicated work," said News Corp Digital Media CEO Jon Miller "However, in talking to Owen about his priorities both personally and professionally going forward, we both agreed that it was best for him to step down at this time. I want to thank Owen for all of his efforts." Jones and Hirschhorn both also joined MySpace in April 2009 with Van Natta. (Additional reporting by Peter Henderson; editing by Carol Bishopric, Gary Hill) Technology Media Comments See All Comments (2) | Post Comment Feb 11, 2010 10:11am EST I wonder if a year was really enough. xpaddy01 Report As Abusive Feb 11, 2010 1:50pm EST With the introduction of Google Buzz, I doubt Google has much interest in dealing with MySpace. I say, “let it die.” ablaut Report As Abusive See All Comments (2) Add a Comment More from Reuters IMF offers to help Greece; EU disappoints markets MUMBAI (Reuters) - The International Monetary Fund on Friday joined the European Union in pledging support for Greece in its struggle to bring its ballooning budget deficit under control and contain its debt crisis. | Video Toyota chief plans U.S. trip as Congress seeks answers | Video Asia shares up on EU Greece pledge, euro dips | Video Senators unveil long-awaited jobs bill Bill Clinton doing well after heart procedure Ex-Goldman programmer indicted over HFT code theft » More Top News Analysis: Policy fears dog China stocks Worries over China's next clampdown have jittery investors taking profits where they can and reluctant to hunt for bargains. Full Article Should Obama push harder on yuan? 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Full Article | Video Factbox: Tax breaks, pension relief Obama: No jobs, no recovery Obama tied in generic 2012 matchup Dems can't escape Palin questions POLITICS © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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