Decoding Tom And Chris’ New $30M MySpace Contract


First Portfolio and now Valleywag are reporting that MySpace bosses Chris DeWolfe and Tom Anderson have re-upped at News Corp. We hear their collective deal is worth up to $30 million over two years, if they hit targets — less than the $50 million they were asking for, but perfectly respectable. Both are also reporting that NWS COO Peter Chernin, who directly oversees the company’s Web business, is bummed about this for some reason. Maybe, but Chernin has a lot on his plate these days, so hard to imagine he’s losing much sleep on this one.

Much more directly affected — Peter Levinsohn, who as head of Fox Interactive Media is nominally in charge of MySpace. Levinsohn’s cousin Ross Levinsohn left his job as head of FIM about a year ago. And while all sides said the split was amicable, our understanding is that Ross Levinsohn and DeWolfe constantly butted heads about big picture questions about MySpace’s direction; apparently Peter Levinsohn is having similar difficulties. Our Kremlinologists interpret the renewed, big-dollar contract as a clear message from Rupert Murdoch: MySpace, for better or worse, is DeWolfe’s baby — and if you have a problem with that, you’re out of luck.