Saturday, November 2, 2013

Lyor Cohen Unveils 300, New ‘Content Company’

According to Billboard magazine, former Warner Music Group recorded music chief Lyor Cohen has named his new label ‘300’ and completed his distribution deal with Atlantic.  Cohen is starting 300 with his fellow ex-Warner Music colleagues Todd Moscowitz (ex-Warner Bros president) and Kevin Liles (ex-EVP Warner Music). All three had also worked together at Def Jam, which Cohen ran in the ’80s and ’90s.  The name 300 comes from Greek history of the 300 Spartans that fought in a vicious battle against thousands of Persian soldiers in 480 BC.  The new company is looking to recruit 25-30 music veterans in areas like radio promotion and marketing alongside younger staffers who breath digital particularly in areas like data mining and data management, explains Liles.“We want entrepreneurial people, industry veterans that are loving the opportunity of the change to the here and now,” says Liles. “We also want people from outside the industry, chief content officers, chief consumer officers.” The company is getting backing from a wide range of investors, led by Google, which has put in around $5 million, according to one person familiar with the terms.

Sidebar: Power mergers.

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