Perhaps buoyed by the status upgrade for their stock from “revulsion” to “indifference”, HITS is reporting that Warner Music Group CEO Edgar Bronfman has been given a new five-year, $1 million-per-year contract, which can be extended indefinitely.

Edgar’s right hand man Lyor Cohen will also be given a five year extension. With both contracts, one has to wonder why, and it seems like Wall Street had the same thought, with WMG stock dropping to a near low. But hey, at least they’ve got Nickelback to rebuild the company around, right? [HITS Daily Double]