Blavatnik Fights Back
Just when I was starting to get really, really bored with the record industry, Christmas came early for me. Aside from the UMG/EMI merger, which I’ll address in a later post, our favorite music industry thug has left the building. Yes, Lyor Cohen “announced” his departure from Warner Music, a company that he and sidekick Junior Bronfman legitimately raped.
A source called me and said that Len Blavatnik was “pulling whatever hair he had left out of his head”. According to the source, the more Blavatnik dug into the books the more dough he found flowing upward. In other words, Junior and Lyor were sucking out even more cash then they publicly admitted to, which was obscene in the first place. Len was reportedly asking himself why the hell he had bought into this mess in the first place.
The indefatigable Claire Atkinson of the NY Post had hinted last May that changes were in the air at the label and subtly singled out Lyor. But as one industry veteran told me today, “Those assholes (Junior and Lyor) were only in it for themselves”.
Welcome to the music biz, Len. It never stops giving.