Global media giant, News Corp, has announced that the CEO of its digital media forte MySpace, Owen Van Natta has stepped down as the top honcho of the social networking platform.
In an official statement released by News Corp, which is owned by Rupert Murdoch, the company said that Van Natta’s resignation was effective immediately.
He will be replaced by Mike Jones, chief operating officer, and Jason Hirschhorn, chief product officer, who are being promoted to serve as co-presidents.
A MySpace spokeswoman, commenting on the change in management, reported that the new MySpace co-presidents will directly report to Jon Miller, who is the chairman and chief executive of digital media for News Corp.
Praising Van Natta’s contributions to the management of the company, John Miller said in an official statement that “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.”
MySpace is currently going through a complete makeover in which the company’s internal and external structure is being overhauled in an attempt to restore MySpace back to its former glory when it was the largest social media platform in the world.
Myspace is suffering tremendously from the competition from Facebook and Twitter. Now that Google has joined the fray, expect life at the former top social networking website to be even more difficult. They need to get back on track with new innovative features or risk being alienated forever.