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March 19, 2008

Fortune interviews Warner Music's new digital czar...

Fortune | Read Full Story >

Michael Nash, a longtime digital music executive, takes over Warner Music’s (WMG) digital division in June, reporting directly to CEO Edgar Bronfman Jr. Since Bronfman and a group of private equity investors bought Warner Music from Time Warner (TWX) in 2004 for $2.6 billion, the company has made headway adapting to the digital marketplace. Digital sales accounted for 14% of the company’s total revenues of $989 million in the most recent quarter. But like the other labels, Warner has been hit hard by the sharp falloff of CD sales. For the past year Warner’s stock has been on a near-steady decline, currently hovering around a $5 a share. I sat down with Nash last week to ask him how a big record label survives and thrives in the Facebook era.


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