Serious Pay Cut for Everyone’s MySpace Friend?

The good news for MySpace cofounder Tom Anderson: He reportedly survived the bloodletting at the social-networking site, despite reports to the contrary. The bad news: According to Silicon Alley Insider, he inked a new, two-year-deal worth $500,000 per year, representing a serious pay cut from his previous $15 million, two-year extension, and was asked to avoid the office by News Corp digital-media boss Jon Miller.

Former MySpace CEO and cofounder Chris DeWolfe lost his job this past spring, being replaced by former Facebook chief operating officer Owen Van Natta.

Join Baratunde Thurston (left), The Onion’s Director of Digital and author of How to Be Black, for an entertaining look at creative social media campaigns in our Social Media Marketing Boot Camp starting February 16. Other speakers include Morin Oluwole (Facebook), Tim Devane (bitly), and SocialTimes' writer Devon Glenn.   Register now.