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# WMG’s Cohen Cashes In $6.8M, Stock Tanks
- URL: https://www.hypebot.com/wmgs-cohen-cash/
- Published: 2008-08-14T05:21:00.000Z
- Updated: 2008-08-14T05:21:00.000Z
- Description: In part to pay for a $6.8 million "tear down" in the Hamptons, Warner Music Group senior executive Lyor Cohen has sold 800,000 shares of company stock at $8.45 for. Continue reading [https://www.hypebot.com/hypebot/2008/08/wmgs-cohen-cash.html]
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 11:06

[![Lyor_cohen_cigar](https://spcdn.shortpixel.ai/spio/ret_img,q_cdnize/www.hypebot.com/hypebot/images/2008/08/14/lyor_cohen_cigar.jpg "Lyor_cohen_cigar")](https://www.hypebot.com/.shared/image.html?/photos/uncategorized/2008/08/14/lyor%5Fcohen%5Fcigar.jpg)

In part to [pay for](http://www.alleyinsider.com/2008/8/warner-music-mogul-lyor-cohen-gives-himself-a-6-8-million-payday-wmg-?ref=hypebot.com) a $6.8 million "tear down" in the Hamptons, Warner Music Group senior executive Lyor Cohen has sold 800,000 shares of company stock at $8.45 for a matching $6.8 million. Cohen still holds additional WMG holdings of 2.6 million shares.

Barrons [reported](http://online.barrons.com/article/SB121863922518937001.html?mod=yahoobarrons&ru=yahoo&ref=hypebot.com) that Cohen’s [stock sale](http://investors.wmg.com/phoenix.zhtml?c=182480&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NTgyNzIwMCZhdHRhY2g9T04%3d&ref=hypebot.com) was among the biggest since the company went public in 2005 and comes just days after WMG reported an additional $9 million loss for the previous 3 months. On Wednesday dropped 9.33% closing at $7.29 in a sell off some believe was triggered by Cohen.

[![Lyor_cohen_finger_2](https://spcdn.shortpixel.ai/spio/ret_img,q_cdnize/www.hypebot.com/hypebot/images/2008/08/14/lyor_cohen_finger_2.jpg "Lyor_cohen_finger_2")](https://www.hypebot.com/.shared/image.html?/photos/uncategorized/2008/08/14/lyor%5Fcohen%5Ffinger%5F2.jpg)

  
Pali research analyst Rich Greenfield was [critical](http://biz.yahoo.com/ap/080813/warner%5Fmusic%5Fgroup%5Fmover.html?.v=2&ref=hypebot.com) of the sale: "Senior management continues to carry on as if the music industry was in its heyday. This simply cannot help morale at WMG." A WMG spokesman said the sale was for personal reasons including a recent divorce. "This sale reflects nothing more than a normal need for liquid assets for personal expenses as well as my financial adviser’s recommendation that I diversify my portfolio for tax and estate planning." Cohen said in a statement.

[![Sinking_ship](https://spcdn.shortpixel.ai/spio/ret_img,q_cdnize/www.hypebot.com/hypebot/images/2008/08/14/sinking_ship.jpg "Sinking_ship")](https://www.hypebot.com/.shared/image.html?/photos/uncategorized/2008/08/14/sinking%5Fship.jpg)

  
TRANSLATION: The $4.4 million that WMG paid me last year for helping it loose millions wasn’t enough to keep me in the [manner](http://finance.yahoo.com/family-home/article/103217/The-$750,000-Fee-Golf-Club?ref=hypebot.com) in which I have become accustomed. And people who know a lot more than I do about money tell me to get as much of my cash as I can get away with off this sinking ship.