Kyncl says the major is not willing to "grow [indie distribution] at all costs" in a talk that also hit on the company's Spotify deal, recent reorganization and tech investments.
Institutional Shareholder Services and Glass Lewis say votes against Val Blavatnik and Access Industries CEO Lincoln Benet are warranted.
Also, Live Nation shares gained 3.7% and reached an all-time high ahead of next week’s fourth-quarter earnings results.
Other recent music deals: Triller Group announced a $50 million funding round, Musical AI raised an initial $2.1 million investment and more.
Warner had previously acquired a majority stake in the leading African digital music distribution, rights management and label services company in 2022.
The WMG veterans report to Michael Ryan Southern, aka MRS, who calls them both "tenacious and curious leaders."
Total quarterly income, recorded music and streaming income fell, but cost-cuts freed up money to invest in A&R and buy Tempo's music catalog.
"It’s a big step forward in our vision for greater alignment between rights holders and streaming services," says Warner Music chief Robert Kyncl.
"Deals get renegotiated all the time if they’re out of sync," says WMG's longtime general counsel. "We want to maintain the best relationships with artists and songwriters."
WMG's youngest board member talks his relationship with Atlantic's new leader and the changes across the business: "The music business should constantly evolve and innovate."
