Miller's appointment is part of a management shuffle among News Corp's highest ranking staff, following the expected departure of Rupert Murdoch's no. 2, Peter Chernin, which was announced last month.
Miller replaces current president of Fox Interactive Media Peter Levinsohn, who oversees MySpace and News Corp's interests in online video site Hulu.
Levinsohn will retain a new role within Fox to oversee the digital delivery of its film and television content. Miller's tentative title is reported to be CEO of digital media.
Miller, now a partner at investment firm Velocity Interactive Group, which he launched with Peter Levinsohn's cousin Ross Levinsohn, left Time Warner in 2006.
The appointment comes at a time when MySpace - the one time media darling of social networking - finds itself a distant second to its younger sibling Facebook, which now boasts more than twice as many members and is set to shortly add its 200 millionth user.
MySpace continues to lose buzz to newer internet fads such as Twitter, and recently parted ways with three top executives, including Amit Kapur, its chief operating officer.
Further speculation of a MySpace abandon-ship come with rumours that co-founders Chris DeWolfe and Tom Anderson are also seeking a way out of the company once their contracts expire in October.
While at AOL, Miller boosted the companies annual profits by more than 21% and led a complete turnaround of its core business, from a struggling internet company to an up-and-coming advertising hub.
He was at the end of last year linked to a bid to buy Yahoo and named as a possible replacement to succeed Jerry Yang as CEO before Carol Bartz, the former executive chairman of Autodesk, was appointed.
Prior to AOL, Miller was CEO and president of media-mogul Barry Diller's USA Information and previously managing director of Nickelodeon International.
Miller replaces current president of Fox Interactive Media Peter Levinsohn, who oversees MySpace and News Corp's interests in online video site Hulu.
Levinsohn will retain a new role within Fox to oversee the digital delivery of its film and television content. Miller's tentative title is reported to be CEO of digital media.
Miller, now a partner at investment firm Velocity Interactive Group, which he launched with Peter Levinsohn's cousin Ross Levinsohn, left Time Warner in 2006.
The appointment comes at a time when MySpace - the one time media darling of social networking - finds itself a distant second to its younger sibling Facebook, which now boasts more than twice as many members and is set to shortly add its 200 millionth user.
MySpace continues to lose buzz to newer internet fads such as Twitter, and recently parted ways with three top executives, including Amit Kapur, its chief operating officer.
Further speculation of a MySpace abandon-ship come with rumours that co-founders Chris DeWolfe and Tom Anderson are also seeking a way out of the company once their contracts expire in October.
While at AOL, Miller boosted the companies annual profits by more than 21% and led a complete turnaround of its core business, from a struggling internet company to an up-and-coming advertising hub.
He was at the end of last year linked to a bid to buy Yahoo and named as a possible replacement to succeed Jerry Yang as CEO before Carol Bartz, the former executive chairman of Autodesk, was appointed.
Prior to AOL, Miller was CEO and president of media-mogul Barry Diller's USA Information and previously managing director of Nickelodeon International.
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