New MySpace Regime Lowers Expectations

MySpace chief Own Van Natta is a consummate dealmaker; at Facebook he helped sweet talk Microsoft into a critical ad buy. MySpace is a trickier case: insiders at the social network are spreading word it faces "horrendous" user disengagement.

A deal with Google is about to shrivel, and now MySpace is facing layoffs and needs a new sales chief, sources "close to" Van Natta and fellow News Corp. newcomer Jon Miller tell Business Insider.

Expectations for MySpace's future were pretty low to begin with; the company's new leaders and their associates have now pushed them so low that the barest gains will make them look like heroes.

(Pic via All Things D)