NASHVILLE, TN (AP) — Christian music company Word Entertainment will close three divisions and has accepted the resignation of a key executive.
The changes come after Gaylord Entertainment Co. announced in November that it was selling Word to Warner Music Group for $84.1 million.
Word will close its Los Angeles music publishing office, its Everland record label for children's music and its Special Products division. Ten employees are being laid off, the company said last week.
Loren Balman, president of the Word Label Group, has resigned. He oversaw the Word, Squint and Everland record labels.
"Loren is a brilliant, creative man for whom I have the utmost respect," said Malcolm Mimms, president of Word Entertainment. "After much discussion we realized our philosophies concerning business operations were different and he graciously stepped down. I know he will be greatly missed."
Word Entertainment also has a distribution company and international and print music divisions.
