Ertegun slipped and hit his head as the Rolling Stones were going onstage to perform Sunday, Oct. 29, The Daily Mail reported.
"Mick was terribly upset," an aide to the band said, referring to lead singer Mick Jagger. "Ahmet was unconscious in the intensive care unit and the doctors at first didn't give him much of a chance. But they are now listing him as stable."
Ertegun, son of a Turkish diplomat, founded Atlantic in 1947 with his brother, using money borrowed from their dentist. The label's roster has included luminaries of jazz, R&B and rock ranging from Ray Charles and Duke Ellington to Led Zeppelin and the Stones.