Warner Brothers US boss Tom Whalley is now expected to renew his contract with the major when it comes up for renewal in
Aug. There had been rumours that he would bow out from the label which, of course, came under new ownership midway through Whalley's last five year tenure. The latest word is that Whalley will renew his contract for a lower sum than the $2.2 million (plus
$3 million bonus) he earned on his last deal, but with the promise of something good when Warner's current owners proceed with a flotation, probably later this year.