Vicarious Music & Media

More trouble at Warner Music Group

Hot on the heels of Lyor Cohen’s highly publicized (and criticized) decision to cash in 6.9 million worth of WMG shares…another top exec has exercised his right to cash in his options.

EVP Human Resources, Mark David Ansorge, converted $75,000 worth of options into a net of $567,000…even at the depressed rate of $7.56 (thanks to the ensuing freak out caused by Cohen’s cash out).

And the worse news? Shares for WMG dropped ANOTHER 6% as a result of the latest exec’s decision.  The shares are now said to be “seariously undervalued”.  More indication of troubled times ahead at the majors…

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>