The history of music, it seems, is replete with rocky transitions.

Jac Holzman, who founded Elektra Records 60 years ago and is now back in the swing of things as senior advisor to Warner Music Group's Chief Executive Edgar Bronfman on the company's digital strategy, has seen quite a few.

For Holzman, one of the most memorable occured in 1965 and involved Bob Dylan. The place was the Newport Folk Festival, and Dylan was headlining the event. Described by Time magazine as one of the top 10 music festival moments, the broad details are well-known.