Warner Music Mogul Lyor Cohen Gives Himself A $6.8 Million Payday

From Silicon Alley Insider: You can indeed still make money in the music business Job-of-the-Week-Music-Supervisor

. It just helps if you’re running one of the world’s biggest music labels. Lyor Cohen, who runs the recorded music unit for Warner Music Group myspace-forms-music-venture-with-big-labels Apr-3-2008

(WMG), pocketed $6.8 million yesterday by selling 800,000 shares at $8.45, according to an

. But Cohen hasn’t cashed out: He still owns another 2.6 million shares, worth about $21 million based on today’s closing price of $8.04.

Which means Lyor can continue to pay for drinks at the

.

See Also: WMG Chairman Lyor Cohen Buying Hamptons Teardown

 

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