Remember Lyor Cohen? Former Warner Music Group Recorded Music chief and former Def Jam head honcho.
Well, Lyor has reached an agreement with Google Inc. and other investors to fund his new music-based entertainment company which is likely to be distributed through the Atlantic label.
Lyor made a surprise exit from Warner Music just over a year ago. Since then, he’s been working on this innovative artist development and label business. The new business will have access to the marketing and distribution infrastructure of a major, but will have the cost structure of a more nimble and flexible indie.
Cohen is partnering with former Warner Music executives in the new business Todd Moscowitz, former president of Warner Bros and Kevin Liles, the former Warner Music exec VP.
It’s no secret that Google has been seeking to have more direct influence on the entertainment business.
Cohen, Moscowitz and Liles are weeks away from fully revealing the nature of their new business which has just about completed a search for office space in New York.
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