WMG U.K. EXEC FIRED IN ALLEGED DISPUTE WITH LYOR COHEN

There he goes again.

Word out of London is that WMG's Paul-Rene Albertini, one of the music business's most respected international executives, has been fired in a dispute with WMG chief Lyor Cohen.

Albertini's division has been showing stronger results in a very weakened market. In fact, the exec was awarded a $4 million bonus just last month for his division's impressive performance. Insiders insist WMG's problems are more about Atlantic's inability to develop any sales momentum in the U.S.

Cohen is now trying to take credit for the huge success of U.K. superstar James Blunt, who has broken through to the U.S. Top 10, and some believe that this breakthrough is at the heart of the Albertini/Cohen dispute. Blunt was signed by then-Elektra chief Sylvia Rhone, when Edgar Bronfman and Lyor stepped in and fired Rhone, they decided to drop Blunt until Atlantic U.K.'s Max Lousada grabbed him for the English label.

The Albertini fiasco is one more glaring example of Cohen managing to keep the wool pulled over the eyes of patrons Edgar and Thomas H. Lee's Scott Sperling about the operations of the company, while maintaining his own political agenda.

While Cohen continues to deny that Atlantic's current head Craig Kallman will be removed, Julie Greenwald is telling others the job will be all hers before year's end, according to label sources. Insiders say that Edgar and Sperling will go along with the Cohen plan, but have balked at his attempts to fire Warner Bros. Records chief Tom Whalley.

Sources at the Bunny insist Whalley is souring even more on Cohen after last week's grandstanding by Cohen at the Grammys (see the current Airhead for details). Whalley is reportedly now openly criticizing Cohen about the continued mishandling of WMG's U.S. operations and is said to be shocked that Cohen will now also be involved in the company's international business.