Access Industries

  1. Analysis: With Warner, Beats and More, Is Len Blavatnik Building a New Media Empire?

    March 06, 2013 7:32 PM EST Len Blavatnik’s Tuesday announcement of his $60 million investment in Beats Electronics’ forthcoming music service Daisy is just the latest in a string of deals that are starting to fill in a bigger picture around the billionaire’s broader am ...

  2. Warner Music Group Realigns Structure; Cameron Strang Gets Big Boost

    November 07, 2012 12:00 PM EST The Warner Music Group has implemented an organizational restructuring that was under discussion when Lyor Cohen still headed up the company's recorded music operation. Lyor Cohen and Warner Music Group: What Are the Next Moves? Insiders Weig ...

  3. Lyor Cohen Stepping Down as Warner Music Chairman/CEO

    September 24, 2012 6:01 PM EDT Lyor Cohen, Chairman/CEO of Recorded Music for Warner Music Group, is stepping down from his post effective September 30, the company announced today. He had been at Warner since 2004, beginning as Chairman and CEO, US Recorded Music in March of t ...

  4. Business Matters: Looking Forward to Live Nation and Warner Music Group's Earnings Releases

    August 03, 2012 5:04 PM EDT Live Nation, WMG Optimistic Ahead Of 2nd Quarter Earnings Reports * (Correciton appended: Live Nation's earning report is due Tuesday, Aug. 7 not Thursday, Aug. 9 as originally reported.) Both Live Nation and Warner Music Group report second ...

  5. Video: Edgar Bronfman Jr. Says Warner Music Will Fight Universal-EMI Merger 'Tooth and Nail'

    February 01, 2012 7:13 AM EST On his last day as chairman of Warner Music Group, Edgar Bronfman Jr. promised that the company will fight Universal's purchase of EMI "tooth and nail," adding that it strikes him as "hubris particularly for Universal to think ...

  6. Billboard Power 100: Len Blavatnik

    January 27, 2012 10:00 AM EST No. 8 Len Blavatnik Owner Warner Music Group Twitter: @warnermusic The Owner... Len Blavatnik has a distinction that no one else in the world can claim: He's the only person who owns a major-label group. Even Terra Firma's Guy Hands had ...

  7. Billboard Power 100: Lyor Cohen

    January 27, 2012 10:00 AM EST No. 14 Lyor Cohen Chairman/CEO of Recorded Music Warner Music Group Twitter: @LyorCohen13 The Iceman Cometh... It's definitely a new day at Warner Music Group and not just because Access Industries' Len Blavatnik (see No. 8) has acquired ...

  8. Warner Music's $205 Million Loss: No Cause for 'Buyer's Remorse'

    December 09, 2011 8:09 AM EST In issuing the first annual financial report since Access Industries completed its acquisition of the Warner Music Group in July , the headline $205 million net loss the company reported will likely fuel more uneducated speculation about Access ha ...

  9. Stephen Cooper, New Warner Music CEO, On EMI Auction, Q4 Losses

    December 08, 2011 11:41 AM EST NEW YORK - New Warner Music Group CEO Stephen Cooper on Thursday said that the music major saw "significant" synergy opportunities in a possible acquisition of EMI's recorded music business, but remained disciplined in the auction t ...

  10. Updated: Edgar Bronfman Jr. to Step Down as Warner Music Group Chairman, No Successor Named

    December 05, 2011 3:38 PM EST Warner Music Group Chairman Edgar Bronfman Jr., who stepped down as CEO earlier this year, announced to the company's staff in a memo today that he's relinquishing the chairman role as well. "I wanted to let you know that, as my oth ...

  11. Warner Internal Memos: Bronfman, Blavatnik On Chairman Changes

    December 05, 2011 3:25 PM EST Warner Music Group Chairman Edgar Bronfman Jr., who stepped down as CEO earlier this year, announced to the company's staff in a memo today that he's relinquishing the chairman role as well. WMG, of course, was sold to Len Blavatnik' ...

  12. EMI: Access/Warner Pulls Out of Auction

    October 30, 2011 9:28 PM EDT In an apparent game of brinkmanship, Len Blavatnik's Access Industries has pulled out of the auction for EMI's recorded music operation, sources confirmed to Billboard.biz, even though the company was said to be the front-runner in the b ...

  13. Read Edgar Bronfman, Jr.'s Internal Memo To WMG Staff On Stephen Cooper Being Named CEO

    August 19, 2011 3:33 PM EDT Dear Colleagues: As Warner Music Group begins its next chapter, well-positioned for some truly exciting and unprecedented opportunities, I am pleased to announce we are adding a new member to our management team: Steve Cooper. Effective today, Ste ...

  14. Warner Music CEO Edgar Bronfman, Jr. and Chairman Stephen Cooper Switch Jobs

    August 19, 2011 3:18 PM EDT Edgar Bronfman, Jr. and Stephen Cooper are switching roles with the former becoming the Warner Music Group chairman and the latter assuming the CEO position and responsible for the company's day-to-day operations. In a memo to employees , Bro ...

  15. Warner Music Group's Quarterly Loss Narrows, Revenues Increase 6%

    August 04, 2011 8:43 AM EDT NEW YORK - Warner Music Group on Thursday reported a narrowed loss for its latest quarter. The loss of $46 million for what is the company's fiscal third quarter, compared to a loss of $55 million in the year-ago period. A settlement with Lim ...

  16. Access-Warner Music Investor Documents Reveal New Roles for Edgar Bronfman Jr., Lyor Cohen

    July 21, 2011 4:29 PM EDT In taking over control of Warner Music Group , Access Industries, as expected, is putting its own people in place on the company's board of directors. Stephen Cooper, a board member at one of the companies that Access Industry has invested in ...

  17. Access Industries Completes Acquisition of Warner Music Group

    July 20, 2011 12:51 PM EDT Access Industries has completed its acquisition of the Warner Music Group ahead of plan, thanks to compliant regulatory agencies and a resilient bond market willing to absorb $1.045 billion in a new bond offering from the company and shareholders ...

  18. EMI: Who's Lining up to Buy It?

    June 22, 2011 4:01 PM EDT While EMI announced earlier this week that it is exploring strategic alternatives that will see the company either sold, go public or be recapitalized, the betting is that the major will be put up on the auction block as the first option. Citigrou ...

  19. Access Reveals Its Warner Music Acquisition Financing Plan in Proxy Statement

    May 23, 2011 4:57 PM EDT Access Industries plans to finance its planned $3.3 billion acquisition of the Warner Music Group by putting up $1.118 billion in equity, obtaining $1.045 billion in bridge loans from Credit Suisse AG and UBS Loan Finance. It will ask the senior s ...

  20. Warner Music Group Passed Up Higher 'Conditional Bid' to Go With Blavatnik's Access Industries

    May 20, 2011 9:06 PM EDT Showing beyond doubt that investor interest in the music industry remains strong, the Warner Music Group auction brought out 17 interested parties before 10 wound up submitting bids , according to a proxy statement filed with the SEC today. In the ...

  21. Michael Fleisher Leaving Warner Music Group

    May 20, 2011 4:25 PM EDT After helping to sell it, Warner Music Group Vice Chairman of Strategy and Operations Michael Fleisher is leaving the company. Fleisher was the main executive at WMG overseeing the auction that resulted in a $3.3 billion bid from Access Industries ...

  22. Business Matters: What the Economist's Analysis of the Warner Acquisition Missed

    May 16, 2011 5:26 PM EDT Three Things Missing from The Economist's Take on Warner Acquisition --While it's great that The Economist would chime in on Access Industries' acquisition of Warner Music Group, the article doesn't actually say anything of sub ...

  23. Warner Music Group Shareholder Sues Over Sale

    May 13, 2011 7:45 AM EDT Warner Music Group Corp. was sued by a shareholder who claims WMG's acquisition by Len Blavatnik's Access Industries last week undervalues the company, according to a Bloomberg report . The complaint, filed by Barbara A. Varipapa, said t ...

  24. Warner Music/Access Industries Deal Is A Win For Both -- But Will Gores Try to Upend It?

    May 06, 2011 7:48 PM EDT Access Industries' proposed $3.3 billion acquisition of the Warner Music Group (WMG) is turning out to be a "best of both worlds" kind of deal for all involved. For one, the private equity owners of WMG will get another payday on to ...

  25. What Can We Expect From a Blavatnik-Owned Warner Music Group?

    May 06, 2011 11:39 AM EDT Warner Music Group may have a new owner in the form of Len Blavatnik's Access Industries , but broadly speaking, insiders feel we can expect more of the same from the company. That's because his close relationship with WMG chairman and C ...

  26. It's Official: Access Industries to Acquire Warner Music Group for $3.3 Billion

    May 06, 2011 9:49 AM EDT Access Industries' winning bid for Warner Music Group will pay $8.25 per share in an all-cash deal, according to a joint press release issued Friday morning. The deal is for both Warner's recorded music and publishing divisions. Shares o ...

  27. Len Blavatnik's Access Industries Reportedly Close To Purchasing Warner Music Group

    May 05, 2011 7:43 AM EDT Reports emerged over night that Access Industries led by investor Len Blavatnik is close to buying the Warner Music Group for more than $3 billion dollars. The Warner Music Group board has been meeting this week to consider bids from groups that i ...

  28. Warner Music Bids in With Board, Announcement Expected Friday: Sources

    May 04, 2011 7:20 AM EDT Bids for a likely $3 billion buyout of Warner Music Group are in with the company's board for review over the next couple of days, according to two people familiar with the process. Three parties are known to have put in bids for the world� ...

  29. Warner Music Group Auction In Final Stretch; One New Bidder Since Last Week

    May 03, 2011 7:33 PM EDT As the Warner Music Group (WMG) auction comes into the final stretch, there appears to be three bidders still in the running -- but only two of them are the same as last week. Ron Burkle's Yucaipa Companies dropped out of the bidding, Bloombe ...

  30. WMG Board Provides Eliminated Bidders With Company Data, Sources Say

    April 20, 2011 8:05 AM EDT The Warner Music Group (WMG) board of directors is not only willing to consider more bidders in the auction to sell the company, as reported yesterday by Billboard.biz, but has in fact left some of the supposedly eliminated bidders with access to ...

  31. Three Suitors Left In Running For Warner Music Group Auction, But Who Are They?

    April 13, 2011 6:56 PM EDT The Warner Music Group (WMG) is heading into a third round in the auction to sell the company, with three suitors still left in the running, sources tell Billboard. As first reported by the Wall Street Journal, the WMG board of directors has decid ...

  32. Live Nation Puts In Bid For Warner Recorded Music

    March 31, 2011 4:59 PM EDT Live Nation, the concert and ticketing company, has put in a bid for the Warner Music Group. The emergence of Live Nation as one of the bidders for the Warner Music Group brings to three the number of strategic players involved in the auction. But ...

  33. Blavatnik Resigns From WMG Board

    January 18, 2008 12:00 AM EST Len Blavatnik has resigned from Warner Music Group's board of directors. Blavatnik has served as a WMG director since March 2004. He told the company his executive responsibilities at Access Industries and travel schedule would prevent his co ...

  34. WMG, Sony BMG Launch Digital Platform In Russia

    June 28, 2007 12:00 AM EDT Warner Music and Sony BMG, along with two Russian record labels, launched a wholesale digital distribution platform in Russia on Thursday, a market dominated by piracy across the entire entertainment industry. The two majors said they had formed a ...