Frankly, right is right and wrong is wrong, particularly when a parent is talking to a child. A bright line around moral responsibility is very important.

It's interesting that the book publishing industry, on the iPad, has much more flexibility than the music industry had.

As my other obligations are beginning to take an inordinate amount of time, I have asked to step down as WMG's board chairman, effective January 31, 2012. However, I will remain a director of the company and in that way, continue my association with Warner Music and its extraordinary people.

If you look at the market cap increase in Apple since it created the iPod versus what's happened to the music industry, you have to say Apple got the better part of that deal.

Commercial success still hasn't come to an artist that isn't signed to a record label. There are very few artists that can succeed without the help of a record label. The role of the record label is still required, it's still necessary.

To turn $100 into $110 is work. To turn 100 million into $110 million is inevitable.

It strikes me as hubris that Universal will buy EMI. What it will do is create a super-major that will have far too much power... I think when Universal goes up over 40 percent market share, I don't see how reasonable regulators can countenance. It will impact not just labels, but artists and cultural diversity.