Blackstone released from contract, replaces Bider
NEW YORK — Zomba Music Publishing prexy Richard Blackstone has officially ankled and taken up new residence as topper of Warner/Chappell Music, the second-largest music publisher in the world and a division of Warner Music Group.
In docs filed late Wednesday afternoon with the Securities and Exchange Commission, Warner Music said Blackstone was released from his Zomba contract on May 25 even though it wasn’t set to expire until the end of the year.
Blackstone came aboard as chairman-chief exec of WCM on May 28, replacing Les Bider.
Warner Music, which went public this spring, wanted an aggressive exec who would look to maximize the company’s assets.
In its SEC filing, Warner Music said Bider would continue working until June 15 pursuant to the terms of his previously announced separation agreement. Bider will be available as a consultant to WCM.
Also Wednesday, Warner Music announced it has completed the sale of its sheet music and educational materials division, Warner Bros. Publications, to Los Angeles-based Alfred Publishing for an undisclosed sum.
When first announcing the sale in December, Warner Music said it wanted to focus more on signing artists and songwriters as it went public.
Warner Music shares closed down 5¢ at $16.35 Wednesday.