MySpace boss and co-founder Chris DeWolfe is stepping down from his job, but will stay on as a “strategic adviser” on the board.

The social networking site’s owner News Corp announced the move yesterday.

DeWolfe’s contract will not be renewed by “mutual agreement” said News Corp, adding that the firm was talking to MySpace president Tom Anderson about taking on a “new role in the organisation”.

However, News Corp hasn’t announced a successor to the top job at MySpace yet.

Some reports have speculated that ex-Facebook COO Owen Van Natta could be given the nod to take on DeWolfe’s post once he steps down. ®

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