• June 2, 2008

Bebo's global vice president of music and content, Angel Gambino, has resigned from the social network, which AOL just acquired for a hefty $850 million. The departure, first reported by News.com on Friday, follows the exit of Bebo's founders Michael and Xochi Birch.

The timing of the departure is unfortunate for AOL, which is being criticized for overpaying for Bebo. Worse still, earlier last week, the CEO of parent company Time Warner, Jeff Bewkes, admitted publicly that AOL "may have overpaid."

Gambino, who was in charge of attracting record labels and musicians to the Bebo community, joined the company a year ago from MTV. Gambino is leaving because developing Bebo's music offering is not AOL's highest priority, News.com reported.

AOL, Bebo, and Gambino did not return press queries over the weekend.

--Gavin O'Malley