Despite once being Rupert Murdoch’s golden boy, it appears MySpace founder and CEO Chris DeWolfe has fallen out of favor. News Corp has announced that DeWolfe will be stepping down "in the near future" and will be left with a role on the board of MySpace China and perhaps some other adviser role.
There’s no announcement about who will take over from DeWolfe, but that’s not stopping AllThingsD from speculating former Facebook COO Owen Van Natta will get the job.
And really, that says it all. MySpace was once the hottest social network on the planet, then Facebook had the audacity to open its network up to everyone. Say what you want about the numerous interface changes at Facebook, but it appears the MySpace rival is gaining audience simply because it doesn’t allow you to set up pages with flashing backgrounds and tacky MP3′s that auto-load.