MySpace Cofounder Logs Off

There’s no more space at MySpace for its founder: News Corp announced yesterday that MySpace cofounder and CEO Chris DeWolfe will step down once his contract expires. According to Reuters, “News Corp has been trying to freshen MySpace—once viewed as evidence of News Corp Chief Executive Rupert Murdoch's willingness to embrace the Internet generation after a life in newspapers—as its revenue growth has slowed and Facebook grows ever more popular.” Rumor has it that News Corp is courting a former top executive from Facebook to take MySpace over.