Jason Flom Exits WMG. What’s Next?

From HITS online, "According to those in the know, here’s how it went down. WMG N.A. head Lyor Cohen summoned Flom to fly in from Aspen and meet him at LAX. When Jason showed up this afternoon, Lyor handed him a press release announcing Flom’s exit—that’s how he learned that he’d been fired. The release, which will go out tomorrow, will also reveal that Craig Kallman has been named Atlantic Chairman, while Julie Greenwald becomes the label’s President. It’s believed that WMG will buy out Flom."

From Bob Lefsetz’s newsletter:

• "…Jason can create a hit out of whole cloth. It starts with the act, but that’s thirty percent at most. Then, with a wide web of contacts, and relentless pursuit, complemented by peerless insight, Jason puts together a juggernaut of a marketing plan, he gives his acts a shot.
• But Jason’s at Atlantic no more. One assumes Jason will end up at Universal. If he’s smart anyway…"

HYPEBOT:  We’d love to see Jason Flom reject the major label world and use his considerable talent and knowledge to run a start-up that borrows a bit from the likes of Victory and Wind-up and the lessons and opportunities of the digital world. Jason is a great record man…but his real legacy could be as a visionary music man.

STAY TUNED…