Owen Van Natta, who only joined MySpace in April of last year, will no longer serve as its CEO.  Reports indicate that he’s in fact been fired, and MySpace has at least confirmed that Jason Hirschhorn and Mike Jones, who reported to Van Natta, are becoming co-presidents.

Jon Miller knows a few things about Internet companies and large amounts of money; he was the CEO of AOL for around four years, and is a founding partner of the Velocity Interactive Group investment firm.  So try to at least not fall out of your chair laughing when we say he might attempt to buy Yahoo.