MySpace chief executive stepping down

MySpace co-founder Chris DeWolfe is stepping down as chief executive of the social network, MySpace owner News Corp. announced on Wednesday.

News Corp.’s new chief digital officer Jonathan Miller said that “by mutual agreement, Mr DeWolfe will not be renewing his contract and will be stepping down in the near future.”

In a statement, News Corp. also said that Miller was “in discussions” with MySpace president Tom Anderson which would have him “assuming a new role in the organization.”

News Corp. said DeWolfe would continue to serve on the board of MySpace China and be a strategic advisor to the company.

MySpace CEO stepping down

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