Tuesday, March 18, 2008

Nice work if you can get it

The labels rush around telling us that only severe action and constant rewriting of copyright law can save the music industry. That, and dropping of acts and sacking of staff,

And yet Warners Edgar Bronfman has managed to arrange himself a payment package that could be worth up to $65million over the next five years. Hardly the behaviour of a man whose business is collapsing, surely?

Bronfman, of course, is worth every penny. Why, his shrewd purchase of Bulldog managed to wipe out all $18m in profits made by the company in the last quarter. Worth every last penny.