Lyor Cohen quits Warners

Lyor Cohen, the man who knocked Warners back together after it escaped from Time Warner, has announced he's got something better to do with his time:

"To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: 'keep on keepin' on' in the tradition of a company that respects and honors the artistic community," Cohen said in a statement.

The label is making warm noises about understanding his need for a new challenge, although what could be more challenging than keeping the leaky old Warners ship afloat we struggle to imagine.