Running MySpace, new CEO Owen Van Natta and News Corp. (NWS) digital head Jon Miller are beginning to realize they have taken on a much bigger challenge than they initially thought, sources close to both executives tell us.

“The business is in a lot worse shape than Fox Interactive was positioning” prior to the Owen and Jon’s arrival, one source says.

There are two main myths that the new team has seen exploded since their arrival.

–

Read the full

Digital Alley Insider

story.