MySpace co-founder Chris DeWolfe will step down soon as the social networking site's chief executive, amid the site's stalled user growth and the rapid rise of rival Facebook.
MySpace owner News Corp. said Wednesday the decision was made by mutual agreement with former AOL Chief Executive Jonathan Miller, who was appointed News Corp.'s chief digital officer April 1.
DeWolfe, 43, helped launch the site in January 2004. He will remain on the board of MySpace China and be a strategic adviser to the company.
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