A little more than two years after taking the top job at MySpace Music, Courtney Holt is leaving the joint venture. MySpace CEO Mike Jones will act as interim president; it’s hard to see the job being filled by a major name from outside as long as the fate of MySpace is unsettled. Holt isn’t going far — at least for now: he’s staying at News Corp (NSDQ: NWS). as a “key advisor” to MySpace and the parent company, according to a memo (included below) from Jones.
The move was first reported by MediaMemo before the memo went out.
Holt was the right person to shepherd MySpace Music to this point, providing consistency at a time when MySpace was on an exec merry-go-round. He is staying on the MySpace Music board and at the company, which should help.
But the uncertainty surrounding MySpace — which the WSJ says has started to let investors see the books — makes it difficult to forecast the future for the music site, which is a strategic asset on its own and inside of MySpace. Its unusual status as a JV linked to MySpace suggests Jones should not be an interim head for long. Meanwhile, Holt, with his background in media and music, can take a deep breath while he continues to be an asset to News Corp.
I wanted to let everyone know that Courtney Holt’s role in the company will soon be changing. Over the next several weeks, he will be moving from being the President of Myspace Music to becoming a key advisor to both Myspace and Newscorp. Courtney will provide guidance on the strategic direction of Myspace Music and lend his incredible depth of experience, industry expertise and creativity to Myspace and Myspace Music. Additionally, Courtney will continue to serve on the board of Myspace Music.
Sam Wick will now oversee all of marketing for Myspace and operationally I will be taking over as the interim president of Myspace Music.
Please let me know if you have any questions about these changes.