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NEW YORK – With MySpace falling behind Facebook as the world's largest online social network, MySpace tapped a former Facebook executive Friday as its new chief executive.
Owen Van Natta, 39, replaces Chris DeWolfe, a co-founder of MySpace, who stepped down as chief executive Wednesday. News Corp., which owns MySpace, said Van Natta's new role begins immediately.
Van Natta faces the lofty task of reinvigorating MySpace at a time when Facebook is growing at a faster clip and Twitter, the short messaging site, is grabbing scores of headlines and celebrity attention. While MySpace is still the largest social network in the United States, it has only 130 million users worldwide, compared with more than 200 million for Facebook.
Even so, MySpace may be making more money, at least for now. Research firm eMarketer estimates that the company brought in $585 million in U.S. ad revenue last year, nearly three times that of Facebook. A big chunk of that, however, comes from an ad-sharing deal with Google Inc. that expires next year. Neither Beverly Hills, California-based MySpace nor Palo Alto, California-based Facebook discloses how much money they make.
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