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.
