You are viewing the archive: “Edgar Bronfman Jr.”

Warner Music To Be Run By MGM Turnaround Exec Stephen Cooper

By DAVID LIEBERMAN, Executive Editor | Friday August 19, 2011 @ 1:14pm PDTTags: Access Industries, Edgar Bronfman Jr., Warner Music Group

What were the folks at Access Industries looking for in a candidate to replace Edgar Bronfman Jr as CEO of Warner Music? Someone who knows the music industry inside out — or who can hob-nob with Warner’s money-makers such as Red Hot Chili Peppers, Missy Elliot, Randy Travis, and Aretha Franklin? Apparently not. The press release about Stephen Cooper’s new gig running Warner Music notes that he is on the board of “one of the world’s largest olefins, polyolefins, chemicals and refining companies” — and  has “more than 30 years of experience as a financial advisor.” I suppose Warner didn’t want to come right out and say that Cooper is a turnaround expert who has worked with corporate basket cases including Enron, KrispyKreme Donuts, and most recently MGM as it went through bankruptcy.

Bronfman kept up appearances, saying that Warner Music is “well-positioned for its next exciting chapter.” He’ll switch jobs with Cooper, who had been chairman, to fulfill “my desire to focus on growth opportunities.” Cooper will handle day-to-day operations. Lyor Cohen, who runs the recorded music unit, and Cameron Strang, who’s in charge of publishing operation Warner/Chappell Music, will report to Cooper. He may have to make a lot of big decisions soon: Warner is one of the leading bidders for EMI as the auction, run by Citigroup, enters its home stretch. In addition to the Cooper appointment, Warner added financier Thomas H. Lee to its board, increasing the number of directors to 10.

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Warner Music Shareholders Approve $3.3B Takeover, And Golden Parachutes

By DAVID LIEBERMAN, Executive Editor | Wednesday July 6, 2011 @ 8:16am PDTTags: Access Industries, Edgar Bronfman Jr., Len Blavatnik, Warner Music Group

Warner Music is a step closer to becoming a division of Access Industries, the privately held chemical, natural resource, and real estate company controlled by Russian-born industrialist Len Blavatnik. Shareholders in the music company this morning overwhelmingly approved Blavatnik’s $3.3 … Read More »

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Citigroup Puts EMI On The Block, Raising Possibility Of A Merger With Warner Music

By DAVID LIEBERMAN, Executive Editor | Monday June 20, 2011 @ 3:52pm PDTTags: Edgar Bronfman Jr., Warner Music Group

Citigroup hung a “for sale” sign on EMI Group today, saying that it has “initiated a process to explore and evaluate potential strategic alternatives” that could include a sale, recapitalization or a public offering. The home of hitmakers including … Read More »

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Warner Music Losses Grow, But CEO Edgar Bronfman Jr. Upbeat As Sale Approaches

By DAVID LIEBERMAN, Executive Editor | Tuesday May 10, 2011 @ 5:50am PDTTags: Edgar Bronfman Jr., Warner Music Group

Even though Warner Music Group’s net losses grew in the quarter that ended in March, CEO Edgar Bronfman Jr. could take comfort from the fact that Wall Street analysts expected worse. The company reported a net loss of $38 million, up … Read More »

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French Court Convicts Edgar Bronfman Jr & Jean-Marie Messier In Vivendi Crime Case

By THE DEADLINE TEAM | Friday January 21, 2011 @ 12:38pm PSTTags: Edgar Bronfman Jr., Vivendi

Former Vivendi Universal executives Edgar Bronfman, Jr. and Jean-Marie Messier have been found guilty in Paris of criminal charges relating to misleading investors and insider trading. Ending a trial that began in June 2009, Bronfman, who at the time was Vivendi’s vice-chairman … Read More »

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