Atlantic Music Group (AMG) is owned by Warner Music Group (WMG). It isn’t an independent company – it is one of Warner’s two main US recorded-music label groups.

The structure is roughly:

Warner Music Group
→ Atlantic Music Group
→ Atlantic Records
→ 300 Entertainment
→ 10K Projects
→ Elektra
→ Fueled By Ramen
→ Roadrunner and other imprints.

Elliot Grainge — son of Universal Music CEO Lucian Grainge — runs Atlantic Music Group as CEO. Interestingly, Warner acquired a majority stake in Elliot’s 10K Projects in 2023, and then folded it into AMG when Elliot took over the whole group in October 2024. WMG subsequently described 10K as a standalone venture controlled by Warner.

Who ultimately controls Warner?

Warner Music Group itself is publicly traded on Nasdaq as WMG, but it’s effectively controlled by billionaire Len Blavatnik’s Access Industries.

As of Warner’s latest disclosed ownership structure:

  • Access Industries: ~72% economic ownership
  • Public/other shareholders: ~28%
  • Access controls approximately 98% of the voting power, because its Class B shares carry 20 votes each.