Hit Men

English rock group Pink Floyd was one of the hottest bands in 1980, with an LP shooting up the charts and a concert tour that sold out within hours. But the group was unable to get airplay for its latest single, at least not without engaging the services of a nascent breed of freelance promoters whose practices ushered in a new era of payola. These promotors, dubbed ``indies,'' used illegal methods and had suspected mob connections. That the recording industry not only tolerated but embraced the indies is indicative of the questionable tactics now employed in this high-stakes arena, charges Dannen in a sharply critical study. At its center is industry leader CBS records, whose president Walter Yetnikoff is depicted as a bully of Machiavellian proportions whose style set the tone throughout the business in the '80s. Dannen, a reporter for Institutional Investor , mixes the skills of an investigative journalist with the gifts of an expert storyteller in an expose that will intrigue and appall readers with its disclosures. Photos not seen by PW. First serial to Vanity Fair; author tour. (Aug.)