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Under its new structure, Warner will operate two label groups â€â€? the Elektra-Atlantic combination in the East Coast and Warner Bros 4 percent share of overall music sales, second only to Universal Music Group, according to Nielsen SoundScan The $2 6 billion deal, which closed Monday, returned Bronfman to a top music industry position once more Records in the West Coast The changes at Warner, home to acts like Kid Rock, Madonna and Metallica, are part of a restructuring plan intended to save the company about $200 million a year so it can be in a better position to compete com 22, Warner Music acts have accounted for 14 Ahmet Ertegun, the founder of Atlantic Records, will be staying with the company but his exact role has yet to be determined, Tanous said before it merged with French media giant Vivendi in 2000 Ames, who remains under contract, is still negotiating with Warner over what his new role at the company could be The recording industry has been struggling in recent years to overcome declining CD sales amid the rise of CD-burning and online music file-sharing recorded music operations, will oversee Elektra and Atlantic until a final management team is named The cuts are widespread, encompassing jobs at the labels, corporate office and IT departments, among others Lee Partners, Bain Capital and Providence Equity Partners, bought Warner Music Group in November after London-based EMI Group PLC pulled its own bid Spokesman Will Tanous said Bronfman was not available for interviews Warner Music Slashes Jobs, Ousts Execs Mar 2, 6:27 PM EST The transformation of Warner Music Group under new chief Edgar Bronfman Jr Still undecided is the fate of Roger Ames, who was Warner Music's chairman and chief executive when it was still a unit of Time Warner Inc As of Feb Lyor Cohen, who left the top post at Island Def Jam Music Group in January to head Warner's U The company is also consolidating the back-office functions of its Elektra Entertainment Group and The Atlantic Group labels, the first step in a plan to combine them into one label Bronfman later left that company as the merger unraveled The company also has yet to name who will oversee the Elektra and Atlantic label combination wmg â€â€?â€â€?â€â€?â€â€? On the Net: www In all of 2003, Warner had a 16 He oversaw Universal Music Group as the former head of Seagram Co The layoffs, which represent 20 percent of the company's global work force, are slated to be completed over the next month S 3 percent of current album sales so far this year, third behind Universal Music Group and Bertelsmann's AG's BMG Entertainment, according to Nielsen SoundScan â€â€?â€â€?â€â€? Associated Press Business Writer Seth Sutel contributed to this story "While the restructuring necessitates some painful changes, they are vital to creating a more agile organization that will allow us to remain competitive in a rapidly evolving marketplace," Bronfman, Warner's chairman and chief executive, said in a statement began in earnest Tuesday as the company ousted several top executives and said it would slash 1,000 jobs at the largest privately owned record company The purchase also included Time Warner's Warner/Chappell Music publishing business Upper management was not spared, including three senior executives: Val Azzoli, the co-chairman of Atlantic Records; the label's co-president Ron Shapiro, and Sylvia Rhone, the chairman of Elektra Bronfman and an investor group that includes Thomas H Freeman began singing as a child in a Baptist church Freeman left the group in 1949 because the travel kept him away from his family The group was renamed the Oak Ridge Quartet and made regular appearances on the Grand Ole Opry He was the last surviving member of the Oak Ridge Quartet, which later became gospel group The Oak Ridge Boys Freeman was honored along with current Oak Ridge Boys Joe Bonsall, Richard Sterban, Duane Allen and William Lee Golden After serving with the Army Air Corps during World War II, he joined a group called the Georgia Clodhoppers as a singer and rhythm guitar player Original Member of Oak Ridge Boys Dies Aug 1, 2:58 PM EST The last original member of the band that became the Oak Ridge Boys has died at 82 He took a job broadcasting at a radio station in Rome In 2000, The Oak Ridge Boys were inducted into the Gospel Music Association's Gospel Hall of Fame in Nashville Marshall Lon "Deacon" Freeman, died at his home here on Wednesday He was born in Berryton |
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