Old man Sumner honored and more in our afternoon aggregation

BY SDH Viacom/CBS's immortal leader, Sumner Redstone was honored by the Paley Center for Media and everyone who is anyone was their except for CBS's day to day ruler Les Moonves who was on the west coast tending to some CBS business. Couldn't he have stuck an underling with that and be present to see the boss honored? Not a good look Leslie [HR] What's up with Seagram killer Edgar Bronfman Jr. being investigated for insider trading dating back to his Vivendi Universal days as Executive Vice Chair [AP] MTV Prexy Christina Norman will call it quits at the end of the month to "Have more time for herself" No one just ups and quits if all is well right?. We think MTV is eliminating layers which they have a lot of and Christina was asked to bow out gracefully [B&C] MySpace exec Travis Katz says that more of you will hang out on Myspace while on the go in about 5 years via your mobile device. Funny we thought Myspace would have just become a stain on the major internet wall by then with the next big thing taking away all the fakes and pedophiles [NMA]

Madonna drops the bunny for Live Nation

Edgar Bronfman and Lyor Cohen are two men we admire. But we have to say that we think they made a huge mistake when they let Live Nation take one of their biggest artists away. Word is Bronfman couldn't go up against what Live Nation was offering Madonna and so he backed down and watched his top artist walk out the door. What does this say about the once mighty music industry? Clearly the music industry has reached a point where artists have more control over what, where and when. Live Nation, a concert promoter has further shifted the game and all the major record companies need to pay attention. Madonna won't be the first or last artist to jump from a traditional record label with the potential of making 10x more. So where does this leave Edgar Bronfman and his music czar Lyor Cohen, the once feared Def Jam honcho? Warner Music Group's stock has already been on a slide, and Investors are getting irritated. Will Warner Music look to restructure and kill the thick layers of top management or will they look to slash more jobs. First of all the first problem with companies like Warner Music Group is that it’s a public company. So what happens is that, top management is more concerned about pleasing Wall Street than consumers. Due to this lack of focus on the consumer –aka- the record buying public, major labels have been putting out what we call bottom line fillers, artists with little or no talent who went into the studio and made some corny shit bag song about a new dance. OK people may love the dance because it’s crazy, but are they going out to buy the record? No. Why? Because they only like the dance not the actual song. The music industry is slowly committing suicide and continues to blame illegal downloads for its troubles. Sure people are downloading music illegally, and the reality is, the music industry can't stop it. Focus on introducing new well developed artists, and come up with some added value content on CD's other than the norm, and try to rebuild. Edgar Bronfman, there will never be another Madonna, and you let her walk. Too bad for you. Bet you Roger Ames wouldn’t have let that happen.