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MySpace Music to name Courtney Holt chief next week

The lengthy CEO search at MySpace Music is finally coming to an end. Now let's see what the new guy can do against Apple.

Courtney Holt, an MTV executive, will be named as president of MySpace Music, possibly as early as Monday, according to a source close to the company.

MySpace Music is the digital music service formed by News Corp. and the four largest recording companies. Some observers say that MySpace, with a well-established history of offering music, could emerge as a competitor to Apple's iTunes.

CNET News first reported that Holt was offered the job last month. He has long been a fixture at the intersection of digital technology and music. Currently, he is MTV Networks' executive vice president of digital music and media. Previously, he was senior vice president of New Media & Strategic Marketing at Interscope Geffen, and before that he was head of New Media at A&M Records.

Holt could not be reached Friday evening. MySpace declined to comment.

Launched in September, the service features downloads of MP3s and ad-supported streaming music. What was missing was a CEO. As the search for a chief dragged on and candidate names came and went, observers began asking whether anyone wanted to steer this ship.

MySpace Music is also expected to announce a new ticket and merchandising initiative, the source said.