It Is Being Reported That Lyor Cohen Is Leaving Warner Music Group To Develop Talent Management Company

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This past Tuesday (September 25), I reported that after eight years with Warner Music Group, music executive Lyor Cohen is stepping down as Chairman/CEO on September 30. Read the original story here! According to the New York Daily News, Cohen stepped down to develop a talent management agency. Below are some excerpts:

“A source close to Cohen tells Confidenti@l exclusively that the 52-year-old music mogul, who has worked with the Beastie Boys and Foxy Brown, has been secretly developing a talent management company for the past two years while working at Warner. Now he has “decided the time is right to move forward,” the source says.”

“As WMG enters its next chapter, I’m ready to begin mine,” Tory Burch’s longtime beau mysteriously hinted in an internal memo to staffers. “I can’t yet announce what I’ll be doing next; I can only say that it will be something where I can work my entrepreneurial muscles and partner with artists.”

Cohen is so private about his new business venture that the insider says he only refers to his new company by a “nonsensical” code name in emails and phone calls. (Our source declined to crack Cohen’s code for us.)

““He’s working to bridge the gap between label and management,” says a second source, indicating Cohen wants to help record companies and bands work together more cohesively. ‘He has for some time now.’”

Source: NYDN

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