In a last ditch attempt to save the ailing website from the same fate as Bebo, MySpace is embarking on a winter re-launch. Having lost the majority of personal users to Facebook, the social network is concentrating on its remaining user base of musicians and artists. 

This new logo, 'my' followed by a Nokia phone space symbol, allows users to create their own logo. This communicates the core proposition of MySpace: a space owned by the user that can be personalised to the nth degree - something lacking in the strictly templated world of Facebook. 

Despite the face that My[____] is an exciting step for brand idents it hasn't stopped those in the blogosphere slamming it for being 'irrelevant'. One commenter refers to it as the 'ghetto of the internet'. ~But surely it's got to be better than [below] myspace: a place for internet banking.

Leaked screenshots:

Source: http://venturebeat.com/2010/10/20/myspace-redesign-photos/