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Warner Music exec sells shares

August 14, 2008|From Times Wire Services

Warner Music Group Corp.'s Lyor Cohen, head of the domestic record business, said he sold $6.76 million of his shares in the company, citing tax and estate planning.

Cohen sold 800,000 shares at $8.45 each, according to a regulatory filing. He continues to hold 2.62 million shares.

The sale coincides with Cohen's June purchase of a tear-down estate in the Hamptons for $6.8 million, reported in the New York Post.

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