Warner Music Group chairman and CEO Edgar Bronfman, Jr is moving to London and will run the major between the U.K. capital and New York.
The London Times reports that Bronfman is moving his family from New York to a house in Kensington near Warner Music’s global (ex-U.S.) HQ in central London.
Bronfman tells the Times that he wants to give his children some experience of life outside the U.S. and intends to stay in the U.K. “for a period of one or two school years.” He has previously worked in London, including running Seagram Europe for two years in the ’80s.
“Having lived in London for several years myself – both in my youth and later in my business career – I appreciate the benefits that an internationally diverse experience provides children,” said Bronfman.
Warner has lagged behind British major EMI in the U.K and Bronfman’s presence could help build up its business here: in 2008, WMG was in fourth place in the U.K. based on market share by units (10.5%) compared to third-place EMI’s 13.4%, according to trade body the BPI.
The move is also likely to reignite speculation about a tie-up between WMG and EMI, whose global HQ is a short distance from Bronfman’s new office.