Edgar Bronfman, Jr.
American businessman
Edgar Bronfman, Jr.
Edgar Miles Bronfman, Jr., is the Chairman of Warner Music Group. He previously served as CEO of the company from 2004 to 2011. In May, 2011, the sale of WMG was announced; Bronfman would continued as CEO in the transaction. In August 2011, he became Chairman of the company as Stephen Cooper became CEO. Bronfman previously served as CEO of Seagram and vice-chairman of Vivendi Universal. He is the son of Edgar Miles Bronfman and the grandson of Samuel Bronfman, patriarch of one of the wealthiest and most influential Jewish families in Canada. The Bronfman family gained its fortunes through the Seagram Company, an alcohol distilling company, but Edgar Jr. ("Efer" to friends) has gained his reputation by expanding and later divesting ownership of the Seagram Company, as well as for pursuing more creative activities as a Broadway and film producer and songwriter. His controversial decision to sell his family stake in DuPont Chemical in order to create the Vivendi Universal entertainment company which turned out to be short-lived, was a source of widespread astonishment in the business community. Bronfman was convicted of insider trading in a French court resulting in a 15 month suspended sentence and fined €5 million. http://www. bloomberg. com/news/2011-01-21/messier-bronfman-avoid-jail-after-guilty-verdict-on-vivendi-near-collapse. html
Biography
Edgar Bronfman, Jr.'s personal information overview.
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News
News abour Edgar Bronfman, Jr. from around the web
Time Inc hires bankers to explore takeover, partnership interest - WSJ
Yahoo News - 3 months
(Theis Dec. 8 story was refiled to say in paragraph 8 that Leonard Blavatnik is a Russian-born American billionaire, not a Russian billionaire.) (Reuters) - Time Inc , the publisher of Time, People and Fortune magazines, has tapped Morgan Stanley and Bank of America Corp to help field takeover or partnership interest, the Wall Street Journal reported. The media company rejected a takeover bid from billionaire investor Edgar Bronfman Jr, the New York Post reported last month. Bronfman, former CEO of Warner Music Group, made the bid along with Russian-born American billionaire Leonard Blavatnik and Israeli businessman Ynon Kreiz, according to the New York Post.
Article Link:
Yahoo News article
Time Inc. Rejected $18-a-Share Overtures From Bronfman-Led Group
Wall Street Journal - 3 months
Time Inc. rejected two overtures from Edgar Bronfman Jr. and Access Industries that offered at least $18 per share for the country’s largest magazine publisher, according to people familiar with the matter.
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Wall Street Journal article
Breakingviews TV: Calling Time
Reuters.com - 3 months
Jennifer Saba and Richard Beales talk about a report that Time Inc has rejected an offer from Edgar Bronfman Jr. and others, and why it suggests the magazine group is now for sale.
Article Link:
Reuters.com article
Jay Weston: Bravo Jeff Bezos -- the Future of Journalism Is Here!
Huffington Post - over 3 years
I have been a journalist all my life. From the time I was 13 and had my letter-to-the-editor published in the New York Times (about Joseph Conrad's novel, Nigger of the 'Narcissus'), I was hooked. I was the editor of my Midwood High School newspaper, The Argus, where Woody Allen wrote jokes. I went to Korea during that unfortunate, ferocious war in 1952-53 and edited a newspaper, The Hialean, and had Leonard Lyons and Earl Wilson writing special columns for that soldier's newspaper, which won three Army Commendation medals as the best paper in the war zone (beating out the powerful Stars and Stripes.) When I returned to Manhattan and became a successful publicist, I wrote a widely-circulated syndicated column,"The Sidetalks of New York," which appeared in 150 newspapers around the country. When I arrived in California in 1970 to produce Lady Sings the Blues, I so missed writing regularly that I began sending letters to all my foodie friends recommending various restaurant ...
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Huffington Post article
Warner Music veteran Cohen to leave company
Yahoo News - over 4 years
LOS ANGELES (Reuters) - Warner Music Group executive Lyor Cohen will resign from the company this month after an eight-year tenure during which he steered the company through a revamp under new ownership and found success with artists from Cee Lo Green to Josh Groban. Cohen joined Warner Music Group in 2004 and oversaw a restructuring of its recorded music division after investors led by Edgar Bronfman Jr. acquired it from Time Warner Inc. He has served as chairman and CEO of recorded music since 2011. He will resign from the company effective September 30. ...
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Yahoo News article
Consumer Groups Oppose Universal-EMI Merger in Letter to Congress
The Wrap - almost 5 years
A pair of prominent consumer trade groups called Universal Music's proposed $1.9 billion acquisition of EMI's recorded music division a “threat to competition” in a letter to Congress and a U.S. regulator on Thursday. Public Knowledge and the Consumer Federation of America, a nonprofit organization representing almost 300 consumer organizations, penned the letter to the Senate's Committee on Antitrust, Competition Police and Consumer Protection, the House Judiciary Committee and the Federal Trade Commission. The FTC is reviewing the deal. The two groups are urging closer scrutiny of the proposed merger, which would increase the market share of Universal, already the biggest label, to almost 40 percent. It would also shrink the number of major labels from four to three. They compared the music industry to the e-book market, citing a recent Department of Justice case against price fixing by the major publishers along with Apple. Also Read: Edgar Bronfman Vows to Fight Uni ...
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The Wrap article
In a Familiar Refrain, Music Industry Heavily Supports Dems
Open Secrets - almost 5 years
Stalwart Democrats have good reason to crack a smile when they turn on the radio: Of the $1.4 million in political contributions given by individuals in the recording industry so far in this election cycle, 80 percent has gone to support their party. We'll be up-front about it: this is a tune you've heard before. The music industry is a big backer of the Democratic Party. That's been true for years. Many of the major music companies lean heavily to the left. Warner Music Group has contributed $112,000 in this election cycle. Edgar Bronfman, Jr. and Lyor Cohen -- WMG's Chairman and recorded music CEO, respectively -- have each given more than $30,000 to the Democratic National Committee thus far. (Individual totals throughout this story include only contributions of more than $200). Jay-Z's record company, Roc Nation, has given $35,800 to purely Democratic causes in this election cycle. But those contributions came from Laurence Brown, who holds an unidentified position at ...
Article Link:
Open Secrets article
Universal Music wins union support to acquire EMI
The Palm Beach Post - almost 5 years
Universal Music Group has won the qualified support of two North American artists’ unions for its proposed $1.9 billion acquisition of the recorded music division of the U.K.’s EMI Group Ltd. The unions gave their conditional backing in letters sent last week to the Federal Trade Commission. In their letters, SAG-AFTRA and the American Federation of Musicians said they would support the deal if there were adequate mechanisms to ensure that Universal complies with its commitment to re-invest in artist development. EMI is home to the recorded music of The Beatles, as well as American artists such as Norah Jones and The Smashing Pumpkins. Universal artists include Rihanna, Lady Gaga and U2. “It has been wrenching to watch EMI wither” as its former private equity owner Terra Firma cut costs, wrote Kim Roberts Hedgpeth, SAG-AFTRA’s co-national executive director. She urged regulators to examine Universal’s commitments to artist development. “Should the commission be satisfied t ...
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The Palm Beach Post article
An Exit Interview With Warner Music Group Chairman Edgar Bronfman Jr.
All Things D- Liz Gannes - about 5 years
Today is a big day for <a class="fplink fp-412251" href="/edgar+bronfman+jr+1">Edgar Bronfman, Jr.</a>. — his last as chairman of Warner Music Group. A fixture in the music industry since the mid-1990s, Bronfman led WMG during a period of profound tumult, navigating a rough transition from CD to the digital download, and grappling with a generation of younger consumers who don’t always want pay for digital music. Onstage at D: Dive Into Media this afternoon, Bronfman reflected on the evolution of the music industry, Apple, and the fate of EMI, which is currently being pursued by Universal Music. “It strikes me as hubris that Universal will buy EMI,” Bronfman told Peter Kafka of AllThingsD. “What it will do is create a super-major that will have far too much power. … I think when Universal goes up over 40 percent market share, I don’t see how reasonable regulators can countenance. It will impact not just labels, but artists and cultural diversity. … Warner is going to fight this t ...
Article Link:
All Things D- Liz Gannes article
Edgar Bronfman Jr. steps down as Warner Music Group Chairman
Yahoo News - about 5 years
NEW YORK (TheWrap.com) - <a class="fplink fp-412251" href="/edgar+bronfman+jr">Edgar Bronfman, Jr.</a>. is vacating his role as chairman of Warner Music Group but will remain on the company's board, he announced in a memo to staff Monday that was obtained by TheWrap. The memo made no mention of who will succeed Bronfman as Chairman. "As my other obligations are beginning to take an inordinate amount of time, I have asked to step down as WMG's board chairman, effective January 31, 2012," Bronfman told staff. "However, I will remain a director of the company and in that way, continue my association with Warner Music and its extraordinary people. ...
Article Link:
Yahoo News article
Warner Music Group Corp. (wmg) CEO, Rec Music - North Am Lyor Cohen sells ... - GuruFocus.com
Google News - over 5 years
Sell: (See Remarks) Edgar Jr Bronfman sold 134620 shares of WMG stock on 06/13/2011 at the average price of 8.18. Edgar Jr Bronfman owns at least 8659535 shares after this. The price of the stock has increased by 0.24% since. Sell: (See Remarks) Edgar
Article Link:
Google News article
Warner Music é vendida por US$ 3 bi - Estadão
Google News - almost 6 years
Article Link:
Google News article
Timeline
Learn about memorable moments in the evolution of Edgar Bronfman, Jr.
    FIFTIES
  • 2012
    Age 56
    He stepped down as Chairman on January 31, 2012.
    More Details Hide Details Bronfman has continued to dabble in songwriting and penned the hit song "To Love You More", which was recorded by Celine Dion, and Barbra Streisand's "If I Didn't Love You". He also currently chairs the Board of Directors of Endeavor, an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets.
  • 2011
    Age 55
    In August 2011, Bronfman became Chairman of Warner Music and Stephen Cooper became CEO.
    More Details Hide Details
    In May, 2011, WMG and Bronfman announced the company's sale to Access Industries for US$3.3 billion cash.
    More Details Hide Details Access is controlled by Russian-born billionaire Len Blavatnik, a former board member and still-substantial shareholder of WMG at the time of the purchase announcement. The sale, coming after a three-month bidding process, "serves the best interests of stockholders as well as the best interests of music fans, our recording artists and songwriters, and the wonderful people of this company," according to a statement released by Bronfman. CEO Bronfman would continue in his post in the transaction, though further job cuts were also foreseen. The investment group which has owned the company since 2004 was said to have received a positive return on its investment.
    In August 2011, he became Chairman of the company as Stephen Cooper became CEO.
    More Details Hide Details Bronfman previously served as CEO of Seagram and vice-chairman of Vivendi Universal. He is the son of Edgar Miles Bronfman and the grandson of Samuel Bronfman, patriarch of one of the wealthiest and most influential Jewish families in Canada. The Bronfman family gained its fortunes through the Seagram Company, an alcohol distilling company, but Edgar Jr. ("Efer" to friends) has gained his reputation by expanding and later divesting ownership of the Seagram Company, as well as for pursuing more creative activities as a Broadway and film producer and songwriter. Edgar Jr. is the second of five children of Ann (Loeb) and Edgar Miles Bronfman.
    In May, 2011, the sale of WMG was announced; Bronfman would continue as CEO in the transaction.
    More Details Hide Details
    On January 21, 2011, Bronfman was found guilty in French court of insider trading and received a 15-month suspended sentence and a €5m fine.
    More Details Hide Details Considering the jail sentences handed out to other executives for similar convictions, BNN reporter Michael Kane told CTV News "The fact that the judge suspended the jail time could be looked at as getting off lightly, perhaps." He has appealed the decision. At the height of file sharing service Napster's popularity, Bronfman was a leading opponent of the illegal use of peer-to-peer technology. As CEO of Universal, he helped lead the music industry's opposition to Napster, likening it to slavery and Soviet communism. As Chairman and CEO of WMG, Bronfman has championed the use of digital innovation and is recognized as a leader in the industry gradual but growing embrace of social media, including its work with Cisco to develop a social networking strategy of its own as well as investments and partnerships with digital music services such as Spotify, imeem, MySpace Music, Lala and we7.
  • FORTIES
  • 2004
    Age 48
    On February 27, 2004, Bronfman finalized the acquisition of Warner Music Group and he has served as Chairman and CEO of the music company since that time.
    More Details Hide Details Bronfman has helped to transform WMG by rapidly growing the company's digital music sales, redefining the relationships it has with artists and diversifying its revenue streams through its expansion into growing areas of the music business. WMG held an initial public offering of stock in 2005 (NYSE: WMG), and is now the only standalone major music company to be publicly traded. While the stock has fallen from a high in 2005 of over $30 per share, the company has nonetheless produced double-digit growth in its digital business, increased its market share and delivered stable revenue performance despite a drastic music industry decline during the same period. In 2008, The New York Times reported that WMG's Atlantic Records became the first major record label to generate more than half of its music sales in the U.S. from digital products.
  • 2002
    Age 46
    In 2002, Bronfman joined private investment firm Accretive LLC as General Partner.
    More Details Hide Details The firm focuses on conducting deep market research and hand-selecting firms to back. Among its past projects are Accretive Health and Fandango (ticket service). Companies it currently backs include human resources firm AlphaStaff and small-business insurance company insureon.
  • 2001
    Age 45
    In December 2001, Bronfman announced he was stepping down from an executive capacity at Vivendi Universal, but remaining as vice chair of the board.
    More Details Hide Details
  • 2000
    Age 44
    Bronfman, Jr., then led Seagram into a controversial all-stock acquisition by French conglomerate Vivendi in 2000.
    More Details Hide Details Bronfman, Jr., became chief of the new company, Vivendi Universal, but the Seagram company effectively lost control of its entertainment businesses. Meanwhile, the beverage division—the core of Seagram's business—was acquired by Pernod Ricard and Diageo. Seagram's for all intents and purposes ceased to exist.
  • THIRTIES
  • 1994
    Age 38
    By 1994 he became the Chief Executive Officer, where he began a move away from the traditional liquor business and into entertainment.
    More Details Hide Details The first step in this diversification was the widely criticized sale of Seagram's stake in DuPont. In 1981, Edgar Bronfman, Sr., had sold Seagram's stake in Conoco to DuPont, in exchange for almost 25% of the chemical giant. This stake in DuPont, by 1995, represented about 70% of Seagram's total earnings. Nevertheless, Bronfman, Jr., acting as Seagram's CEO, approached DuPont about buying back its shares, a deal that DuPont wasted no time in closing. With the proceeds of the $9 billion sale, Bronfman, Jr., went on an expansion into the entertainment business, in music through the acquisition of Polygram, and in film entertainment through MCA and Universal Pictures. However, the new entertainment conglomerate he created had a brief life, before needing a strategic partner.
  • 1993
    Age 37
    In 1993, Bronfman married Clarisa Alcock San Román, the daughter of Frank Alcock Pérez-Matos, a Venezuelan oil executive of half British descent and a Venezuelan mother, Dinorah San Román Strup.
    More Details Hide Details They have four children: Aaron, Bettina, Erik, and Clarissa.
  • 1991
    Age 35
    The couple had three children before they divorced in 1991:
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  • TWENTIES
  • 1984
    Age 28
    In 1984, Bronfman returned to New York as President of the House of Seagram, the company's U.S. marketing division.
    More Details Hide Details
  • 1982
    Age 26
    In 1982, Bronfman returned to the Seagram Company, spending three months learning the ropes before moving to London to become managing director of Seagram Europe.
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  • 1979
    Age 23
    In 1979, Bronfman married his first wife, Sherry Brewer, an African-American actress, in New Orleans.
    More Details Hide Details Bronfman's father did not approve of the marriage. "I very much wanted for him to end the relationship, because I told him, all marriages are difficult enough without the added stress of totally different backgrounds", Bronfman Sr. wrote in his memoirs. "Sherry offered to convert Judaism, which though well intentioned, was not the point." Bronfman and Brewer eloped and he and his father remained estranged.
  • 1977
    Age 21
    His Efer Productions company was signed by Universal Studios in 1977 to a three-year movie production contract.
    More Details Hide Details He produced the unsuccessful film The Border, which starred Jack Nicholson.
  • TEENAGE
  • 1973
    Age 17
    In 1973, Bronfman began a songwriting career under the pseudonyms Junior Miles and Sam Roman.
    More Details Hide Details He often collaborated with Bruce Roberts on songs like "Whisper in the Dark", which he gave to Dionne Warwick to record in thanks for introducing him to his first wife, Sherry.
  • 1972
    Age 16
    The summer before his final year of high school, in 1972, he was a credited producer on the film, The Blockhouse.
    More Details Hide Details Despite his inexperience, Bronfman's involvement was accepted because of his connections and access to financing through his family's wealth. In return, he learned many of the tricks of the trade by watching his more experienced peers.
  • 1967
    Age 11
    From his early days, Bronfman's interest in the arts was apparent. He was particularly active in school theatre, an interest his parents supported by donating to construct The Ann and Edgar Bronfman Theatre during a 1967 expansion at The Collegiate School, the prestigious private school in Manhattan which Edgar Jr. attended.
    More Details Hide Details Edgar Jr. and his classmates created a documentary film of the school that spawned the Collegiate Film Festival, an event that gained positive press in The Los Angeles Times and The Village Voice. In the summer before his junior year in high school, Bronfman went to London to work on a feature film, arranged partly through his father's connections at MGM. He produced "The Blockhouse" starring Peter Sellers at only 17 years of age. He later went on to produce titles such as "The Border" starring Jack Nicholson and Harvey Keitel before retiring to the family business. Bronfman proceeded to a brief career in entertainment in the 1970s as a film and Broadway producer.
  • CHILDHOOD
  • 1955
    Born
    Born on May 16, 1955.
    More Details Hide Details
Original Authors of this text are noted here.
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