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Major music companies shuffle their players; Cut chiefs, costs to battle slump; yet to offer viable Internet strategy.(News)
Crain's New York Business, February, 2004 by Jain, Anita
Byline: anita jain The record industry started off the year with a vicious round of musical chairs in the executive suites, the likes of which has never been seen. One chieftain left an empire to be crowned at another, a second was unceremoniously beheaded and a third was restored to the throne after a period of banishment.
Respected hip-hop mogul Lyor Cohen bolted from the top slot at Island Def Jam Music Group to head Warner Music Group's U.S. operations. Seesaw Antonio "L.A.'' Reid was fired from BMG's popular Arista Records for his lavish spending. Despite his bad habits, he was snatched up by Universal Music Group last week to fill the vacuum left by Mr. Cohen at its Island Def Jam division. Legendary pop impresario Clive Davis took back the...
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