Universal Music top man Doug Morris has signed a new long-term deal to head up the music firm for the foreseeable future, despite him heading towards his 70th birthday next month.
Specifics of the deal were not disclosed, though Morris is sure to have been well rewarded by the major's owners Vivendi, as his time at the top of the Universal Music empire has generally been viewed as a success. The major continues to perform relatively well despite difficulties in the wider record industry, while Morris' hard-nosed deal making frequently ensures the majors get those large upfront payments or share deals from the rising stars of digital music provision which may not go down well with the digital community, or the artist community for that matter, but which are presumably welcomed by record company shareholders.
Confirming he had renewed his contract with the major, Morris told Billboard: "I'm enjoying what I'm doing enormously right now. I want to take the company through this bumpy period, to the takeoff. And it's close to the takeoff".
Universal have also confirmed those reports from Friday that former Warner and EMI senior exec and respected A&R man Jason Flom is negotiating a deal with the major which would see him launch his own imprint within the Universal empire, most likely associated with Monte Lipman's Universal Republic division.
Morris, who was something of a mentor to Flom when he first set up his Lava Records label as an imprint to the then Morris-run Warner Music Group, told Billboard regarding those negotiations: "Jason will be doing exactly what he's always done, which is trying to get hits. I'm simplifying this so it sounds pedestrian. Jason is going to bring in talent".