• D: All Things Digital, Thursday, November 6, 2008 10:45 AM

Rumor has it that the "very, very long search" for someone to run MySpace's new music site could soon be over. A source tells All Things Digital's Peter Kafka that MySpace Music is finalizing negotiations with MTV's current head of digital music, Courtney Holt.

The deal, first reported by Cnet last week, has still not been confirmed, but according to Kafka, "at this point there doesn't seem to be anything left beyond 'i'-dotting and 't'-crossing." Kafka adds that Holt may even show up at the MySpace Music party in San Francisco tomorrow.

News Corp. has been searching for someone to run the joint venture, which includes the music majors as investor-partners with MySpace, since its announcement in April. So what's taken so long? According to Kafka, "the conventional wisdom is that the job doesn't appeal to many would-be executives because it's not really a CEO job -- it's a job running a unit of MySpace." That said, Kafka believes that MySpace Music CEO would be a step up for Holt, as MTV is really only an also-ran in digital music, while MySpace has been a digital music pioneer for several years now.

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