Company Town : Hits Magazine Tip of the Week

The smoke is finally clearing around PolyGram Records as insiders look for John Barbis to officially accept the presidency of PolyGram-owned Island Records. Barbis was previously executive vice president and general manager of PolyGram Label Group, which is being restructured by PolyGram Worldwide Chairman Alain Levy. Island, which previously fell under the PLG umbrella, will now be a free-standing major label. Meanwhile, after extensive deliberation, former PLG President Rick Dobbis has reportedly decided to accept a position as president of PolyGram Europe. Official announcements are expected shortly.

Note: Hits magazine is a weekly music industry trade publication.

Source: Soundscan Inc.