Marching To Morgado's Tune At Warner Music

The atmosphere at Warner Music Group's recent sales conference in Nashville was as rueful as any country-and-western ballad. Three days before the Aug. 18 meeting, Mo Ostin, the legendary chairman of Warner Bros. Records Inc., announced his resignation. Now, Ostin was delivering his farewell speech shortly after the very person who had hastened his departure: Warner Chairman Robert J. Morgado. "It was a very emotional event," recalls Danny Goldberg, president of Atlantic Records. "Everybody was crying."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.