The record label as venture capital firm
CNNMoney.com
April 19 2007
NEW YORK (Fortune) -- Three years ago, a couple of economists rankled the music industry...
...Now, a big industry player is closing in on another type of union that would tap into new revenue outlets -- and if it's successful offer a new economic model for the major record companies. Warner Music Group, which was acquired by Edgar Bronfman Jr. and several private equity outfits in 2003 from Time Warner (Charts, Fortune 500) for $2.6 billion, is inching toward a deal to acquire Front Line Management, the nation's largest artist management firm, owned by the famed manager Irving Azoff. The firm represents a slew of big-name artists, everyone from Christina Aguilera to Van Halen to Aerosmith. (The deal has been rumored for months within the industry, but sources tell me that talks have lately gained momentum)...
April 19 2007
NEW YORK (Fortune) -- Three years ago, a couple of economists rankled the music industry...
...Now, a big industry player is closing in on another type of union that would tap into new revenue outlets -- and if it's successful offer a new economic model for the major record companies. Warner Music Group, which was acquired by Edgar Bronfman Jr. and several private equity outfits in 2003 from Time Warner (Charts, Fortune 500) for $2.6 billion, is inching toward a deal to acquire Front Line Management, the nation's largest artist management firm, owned by the famed manager Irving Azoff. The firm represents a slew of big-name artists, everyone from Christina Aguilera to Van Halen to Aerosmith. (The deal has been rumored for months within the industry, but sources tell me that talks have lately gained momentum)...
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