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Posts Tagged ‘Chris DeWolfe’

Former AOL CEO Finds New Job With News Corp.

jonathan_miller_aol.jpgThe former head of AOL, Jon Miller, is joining News Corp in the new role of CEO, Digital Media reports BoomTown. In this capacity, Miller will oversee the global internet and mobile businesses as well as developing new digital strategies across all News Corp. sites.

Since 2006, Miller has been working with the venture capital firm Velocity, which he founded. This new role is an interesting turn as Miller is just emerging from his non-compete contract with Time Warner, which he has been under since he left the role of AOL CEO three years ago. Previously Miller was barred from taking a seat on Yahoo‘s board of directors by this same contract. Even now Miller can not officially take this new position heading News Corp’s digital media group as his contract is still binding for another three days. News Corp expects to officially announce Miller’s appointment on Tuesday or Wednesday. This is not the only battle Miller will have to face when it comes to News Corp. More on this after the jump.

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Is There Stability Online?

While most newspapers shuttering blame the internet for their lack of consumers, even top social network sites like MySpace seem to be suffering in this economic climate. Three top MySpace executives are leaving the company, reports CNET. Speculations about this departure&#151which includes COO Amit Kapur&#151indicate trouble within MySpace. Last July the company reduced its staff by 5 percent, but maintained that these layoffs were performance driven and that the company intended on hiring 300 new employees to replace those let go. This rehire has yet to occur.

Overall traffic at MySpace has been declining, allowing rival site Facebook to take the lead worldwide, though MySpace is still the number one social networking site in the United States. An internal memo from CEO Chris DeWolfe accentuated the health of MySpace, though ad revenue declines have affected this social networking site.

So while online networks maybe generating more pageviews, ad revenues are still down across the board and no company seems inured to this economic crisis.