BMG/Sony Dumps $Clive Davis$!!! Oh, How Sweet It Is!

You're gonna love this! Clive Davis, the guy who proclaimed selling 701,000 copies of a CD is not "good enough" to keep on his record label was dumped as CEO of the BMG Music Label. Yes, ye old karmic wheel rolls right along, sticking it to old Clive and a few of his croonies today.

Let's see, what adjectives can I use to get the most effect out of this HUGE story? Hmm! How about axed, dropped, cut, washed up, kicked out the door, kicked in the ass, failure? What goes around comes around and I couldn't be happier! A sweet day in the music industry. Somewhere, Taylor Hicks has his feet up, smiling and drinking a cool Coors. :) Read on....

SONY BMG MUSIC ENTERTAINMENT ANNOUNCES SENIOR MANAGEMENT CHANGES

New York – April 17, 2008 – SONY BMG MUSIC ENTERTAINMENT today announced a series of senior management changes that will further strengthen the operation of the company.

Effective immediately, Barry Weiss will assume the position of Chairman and CEO of the BMG Label Group. Mr. Weiss will report to Rolf Schmidt-Holtz, Chief Executive Officer of SONY BMG MUSIC ENTERTAINMENT, and will be responsible for overseeing the day-to-day operations of the Group and its labels, which include RCA Records, Jive, J Records, LaFace, Arista, Volcano, Verity, GospoCentric and Fo Yo Soul.

Effective immediately, Clive Davis will assume the role of Chief Creative Officer — SONY BMG Worldwide. In this role, he will also continue to work together with premier artists for SONY BMG and will report to Rolf Schmidt-Holtz. Mr. Davis has been a monumental figure in the music industry for generations. He has shaped the careers of legendary artists such as Janis Joplin, Alicia Keys, Whitney Houston and Carlos Santana, among others, and has become a music legend in his own right.

Mr. Weiss previously served as President and CEO of the Zomba Label Group, where he signed and/or developed some of the world’s most popular artists including Justin Timberlake, Britney Spears, R. Kelly, Backstreet Boys, Chris Brown, T-Pain and Three Days Grace. He has built a reputation as an exceptional leader who skillfully combines creative sensitivity with business tenacity. Mr. Weiss will continue to oversee Zomba as part of the BMG Label Group in his new role.

Richard Sanders, currently President of Global Marketing, will now become Head of International, responsible for operations and regional offices worldwide. He will continue to oversee Global Marketing.

Tim Bowen will leave the company. As SONY BMG’s Chief Operating Officer, Mr. Bowen successfully worked across labels and regions to unify SONY BMG and expand its presence in markets around the world.

Charles Goldstuck will leave the company to pursue other business interests. Mr. Goldstuck helped to build BMG into one of the most successful music label groups in the industry during his tenure as President and COO. His many contributions over the years have greatly benefited the BMG Label Group.

SONY BMG MUSIC ENTERTAINMENT thanks Mr. Bowen and Mr. Goldstuck for their dedicated service to the company.

ABOUT SONY BMG MUSIC ENTERTAINMENT

SONY BMG MUSIC ENTERTAINMENT is a global recorded music joint venture with a roster of current artists that includes a broad array of both local artists and international superstars, as well as a vast catalog that comprises some of the most important recordings in history. SONY BMG MUSIC ENTERTAINMENT is 50% owned by Bertelsmann A.G. and 50% owned by Sony Corporation of America.