Google Backs Lyor Cohen’s New Company
Lyor Cohen's future in the music industry has been a subject of debate ever since he stepped down from his position as the chairman and CEO of Warner Music Group Recorded Music back in 2012, but it appears the speculation will soon be coming to an end. Yesterday, Billboard reported that the veteran hip-hop executive has reached an agreement with Google and other investors to create a new music-based company along with former president of Warner Bros Todd Moscowitz and former Warner Music Exec VP Kevin Liles.
Not many details are known about Cohen's new venture, but Billboard reports that the company's music will likely be distributed through Atlantic and that it will have the marketing apparatus of a major label with the financial structure of an indie.
The involvement of Google is also notable, as the tech giant has been increasingly making moves to be more involved with the music business. As the New York Post points out, Google's YouTube is scheduled to roll out a new paid music subscription music service soon.
Either way, it sounds like Cohen, Moscowitz and Liles are making moves. Billboard writes that they've just about completed their search for an office space in New York.