Report: David Massey Stepping Down From Island Records To Start New Venture

Massey Exiting

Numerous sources are reporting that ISLAND RECORDS Pres./CEO DAVID MASSEY is planning to leave the company in JUNE.

VARIETY reports, "MASSEY actually gave notice to LUCIAN GRAINGE, Chairman/CEO of ISLAND parent UNIVERSAL MUSIC GROUP, several months ago and did not really leave open the option for a counter-offer. MASSEY's contract is said to be up in JUNE. An insider told VARIETY that a succession plan is in place at ISLAND, which has a highly capable GM in ERIC WONG; further details were not forthcoming."

The report also says that MASSEY, "has secured independent funding for his new operation," possibly returning to SONY, "where he spent some 16 years of his career, and where his daughter CLIO is a Senior Director of A&R at SONY/ATV MUSIC PUBLISHING (although it's possible the new label could be a joint venture, or simply distributed by SONY)."

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