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MySpace Names First Chief Financial Officer

CEO talks about "next phase of growth"

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[ Business]

When News Corp. acquired MySpace in 2005, it paid $580 million, and all sorts of large figures (the $900 million Google ad deal, for example) have been attached to the social network since.  However, it’s never had a chief financial officer, and this morning, MySpace changed that.

Mark RosenbaumMark Rosenbaum, the new CFO, does not appear to represent an afterthought.  He starts immediately, and will indeed be in charge of all of MySpace’s finance- and accounting-related operations.  He’ll also work out of MySpace’s headquarters and report straight to CEO Owen Van Natta.

Moreover, there’s his resume to consider.  Rosenbaum has worked for MGM, tvguide.com, Twentieth Century Fox, and the Walt Disney Company, which means he should have plenty of experience with big corporations and the online space.

Van Natta said in a statement, "Mark understands both startup culture and mature businesses, and is well suited to guide MySpace’s financial organization through its next phase of growth.  We’re thrilled to add someone with his pedigree and experience to the team."

That just leaves us to wonder about the timing of the development (and perhaps the phrase "next phase of growth").  It’s worth considering whether MySpace is up to something big, or if Rupert Murdoch simply decided to give someone else a try at squeezing money out of it.

MySpace Names First Chief Financial Officer
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