Yesterday we reported that allegations of sexual misconduct, a pattern of burying similar allegations against others and possible financial improprieties had allegedly forced the exit of Billboard, Spin and Hollywood Reporter CEO John Amato. Now come reports that Amato was paid handsomely to find the door.
Fired Billboard CEO John Amato is reportedly telling anyone who will listen that he was paid $18 million to leave the media group, and ‘reliable sources’ have confirmed the claim to Hits.
The payment comes at a time when the three publications are rumored to losing more than $20 million a year.
WHY?
Which leads to the question, what happened that justifies an $18 million payment to a disgraced employee?
What did Amato do or witness? Is there a wider scandal that Billboard, Spin and Hollywood Reporter parent Valence Media want to bury?