Report: Jason Flom Bringing Lava Records To WMG
December 31, 2014 at 7:09 AM (PT)
Longtime label executive JASON FLOM will bring his imprint, LAVA RECORDS, into the WARNER MUSIC GROUP, the NEW YORK POST reports. Apparently, UNIVERSAL MUSIC GROUP passed on a “buy-sell” option that forced it to either acquire FLOM’s half of LAVA at a price he set, or let him buy out UNIVERSAL’s stake in his company so he could shop LAVA to another major label.
The move comes a decade after he was let go as CEO of WMG’s ATLANTIC RECORDS when parent company WMG was headed up by LYOR COHEN. He subsequently turned LAVA into the home of hit artists such as LORDE and JESSIE J as part of UMG. Meanwhile, when LEN BLAVATNIK acquired WMG in 2011, it prompted label group head LYOR COHEN to depart and start his own company, 300.