According to the Post, outgoing SBMG COO (and long-time BMG exec) Michael Smellie told a group of financial analysts that he would consider staying on if changes were made to top management, apparently referring to Lack.
And in a private discussion with one London-based analyst, Smellie reportedly said that Sony label Columbia’s recent renewal of Bruce Springsteen’s contract for upwards of $100 million was a “trigger” in unleashing anti-Lack sentiment and one of the main reasons for Bertelsmann withdrawing its support for the former NBC exec and pal of Sony topper Howard Stringer.
Although the new Springsteen deal, which could be worth as much as $100 million if certain objectives are met, was ultimately approved by the SBMG board, the Post reports that the deal was initially made over the objections of Bertelsmann execs.
While some have said that simply filling the COO post to be vacated by Smellie with another German exec would be enough to quell the current anti-Lack movement, others are now insisting Bertelsmann will continue to push for Lack’s removal no matter who gets the COO gig.
According to reports, Sony has the ability to extend Lack’s tenure through the end of 2006, but after that, any additional extension would require Bertelsmann’s approval.SONG REVENUE: CALM BEFORE THE STORM
J. Cole has his moment; Future-Metro have another big payday. (4/19a)
WARNER CHAPPELL ROPES IN RED CLAY STRAYS
Another big get for Guy and Carianne (4/19a)
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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