Atlantic Records Names Co-Presidents

Warner Music Group has promoted Ron Shapiro and Craig Kallman to co-presidents of its Atlantic Records division, sources said.

Shapiro started at Atlantic less than a decade ago as a publicist and is credited with helping transform unknown folk singer Jewel into an international star. Kallman founded famed dance-music label Big Beat in the 1980s and sold it to Atlantic a decade ago. The two executives will report to Atlantic Co-Chairmen Val Azzoli and Ahmet Ertegun.

Warner Music also is in negotiations to restructure its profit-sharing relationship with subsidiary Lava Records, which is expected to result in a sizable payout for talent whiz Jason Flom, Lava’s president.

Warner may pay a lump sum in exchange for a bigger slice of the profit from Lava, whose roster includes such acts as Kid Rock, Uncle Kracker and Matchbox Twenty.

*

Jeff Leeds