Warner Music Group confirms that it has named Lyor Cohen as chairman/CEO of U.S. Recorded Music. Cohen, current chairman/CEO of Island Def Jam Group, will take over the role following the purchase of

Warner Music Group confirms that it has named Lyor Cohen as chairman/CEO of U.S. Recorded Music. Cohen, current chairman/CEO of Island Def Jam Group, will take over the role following the purchase of WMG by an investor group led by Edgar Bronfman Jr. A WMG statement does not say to whom Cohen will report, but sources indicate it will be Bronfman.

The $2.6 billion WMG deal was initially expected to close Jan. 20; the new target date is the end of the month.

Currently, WMG is headed by Roger Ames. Sources say the new ownership is trying to find a way to keep him with the company; the position currently being discussed is head of global operations.

Meanwhile, Antonio "L.A." Reid, who was axed Jan. 13 as president/CEO of Arista, is said to be the leading candidate to replace Cohen at IDJ.

Cohen's contract with Universal Music Group expired at year's end, and he was involved in negotiations to re-up. UMG offered him everything he asked for, sources say, but the offer of an equity stake in WMG, said to be about 3%, apparently won out.

Speculation now centers on whether Def Jam/Def Soul president Kevin Liles and Island president/IDJ executive VP Julie Greenwald will join Cohen at WMG. A source familiar with those execs says both of their contracts expire soon.