Edgar Miles Bronfman Jr. (born May 16, 1955) is an American businessman who currently serves as a Managing Partner at Accretive LLC, a private equity firm focused on creating and investing in technology companies. He previously served as CEO of

Warner Music Group Warner Music Group Corp. (trade name, d.b.a. Warner Music Group, commonly abbreviated as WMG) is an American Multinational corporation, multinational entertainment and record label Conglomerate (company), conglomerate headquartered in New York C ...

from 2004 to 2011 and as Chairman of

from 2011 to 2012. In May 2011,

the sale ''The'' () is a grammatical article in English, denoting persons or things that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in ...

of WMG was announced; Bronfman would continue as CEO in the transaction. In August 2011, he became Chairman of the company as Stephen Cooper became CEO.Warner Music CEO Edgar Bronfman Jr. and Chairman Stephen Cooper Switch Jobs , Billboard
Billboard.biz (2011-08-19). Retrieved on 2013-12-23. Bronfman previously served as CEO of

Seagram The Seagram Company Ltd. (which traded as Seagram's) was a Canadian multinational conglomerate formerly headquartered in Montreal, Quebec. Originally a distiller of Canadian whisky based in Waterloo, Ontario, it was once (in the 1990s) the l ...

and vice-chairman of Vivendi Universal. Bronfman Jr. expanded and later divested ownership of the Seagram Company, and also worked as a Broadway and film

producer Producer or producers may refer to: Occupations *Producer (agriculture), a farm operator *A stakeholder of economic production *Film producer, supervises the making of films **Executive producer, contributes to a film's budget and usually does not ...

, and songwriter under the pseudonyms Junior Miles and Sam Roman.

Early life

Born in 1955, Edgar Jr. ("Efer" to friends) is the son of Edgar Miles Bronfman and the grandson of Samuel Bronfman, patriarch of one of the wealthiest and most influential Jewish families in Canada. The Bronfman family gained its fortunes through the

Company, an

alcohol Alcohol most commonly refers to: * Alcohol (chemistry), an organic compound in which a hydroxyl group is bound to a carbon atom * Alcohol (drug), an intoxicant found in alcoholic drinks Alcohol may also refer to: Chemicals * Ethanol, one of sev ...

distilling company. Edgar Jr. is the second of five children of Ann (Loeb) and Edgar Miles Bronfman. His mother was the daughter of John Langeloth Loeb Sr. (a

Wall Street Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for ...

investment banker Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated wit ...

whose company was a predecessor of Shearson Lehman/

American Express American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...

) and Frances Lehman (a scion of the

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...

banking firm). They divorced in 1973.

Business career

Film production

Bronfman proceeded to a brief career in entertainment in the 1970s as a film and Broadway producer. The summer before his final year of high school, in 1972, he was a credited producer on the film, '' The Blockhouse''. His Efer Productions company was signed by

Universal Studios Universal Pictures (legally Universal City Studios LLC, also known as Universal Studios, or simply Universal; common metonym: Uni, and formerly named Universal Film Manufacturing Company and Universal-International Pictures Inc.) is an Americ ...

in 1977 to a three-year movie production contract. He produced the unsuccessful film '' The Border'' (1982), which starred

Jack Nicholson John Joseph Nicholson (born April 22, 1937) is an American retired actor and filmmaker. He is widely regarded as one of the greatest actors of all time. In many of his films, he played rebels against the social structure. He received numerous ...

Seagram Company

In 1982, Bronfman returned to the Seagram Company, spending three months learning the ropes before moving to London to become managing director of Seagram Europe. In 1984, Bronfman returned to New York as President of the House of Seagram, the company's U.S. marketing division. By 1994, he became the Chief Executive Officer, where he began a move away from the traditional liquor business and into entertainment. According to ''Cigar Aficionado,'' Edgar Jr. led the family on a series of disastrous business deals, ultimately losing the family's ownership of

. The first step in this diversification was the widely criticised sale of Seagram's stake in DuPont. In 1981, Edgar Bronfman Sr. had sold Seagram's stake in

Conoco Conoco Inc. ( ) was an American oil and gas company that operated from 1875 until 2002, when it merged with Phillips Petroleum to form ConocoPhillips. Founded by Isaac Elder Blake in 1875 as the "Continental Oil and Transportation Company". Curre ...

to DuPont, in exchange for almost 25% of the chemical giant. This stake in DuPont, by 1995, represented about 70% of Seagram's total earnings. Nevertheless, Bronfman Jr., acting as Seagram CEO, approached DuPont about buying back its shares, a deal that DuPont wasted no time in closing. With the proceeds of the $9 billion sale, Bronfman Jr. went on an expansion into the entertainment business, in music through the acquisition of

PolyGram PolyGram N.V. was a multinational entertainment company and major music record label formerly based in the Netherlands. It was founded in 1962 as the Grammophon-Philips Group by Dutch corporation Philips and German corporation Siemens, to be ...

, and in film entertainment through

MCA MCA may refer to: Astronomy * Mars-crossing asteroid, an asteroid whose orbit crosses that of Mars Aviation * Minimum crossing altitude, a minimum obstacle crossing altitude for fixes on published airways * Medium Combat Aircraft, a 5th gene ...

and

Universal Pictures Universal Pictures (legally Universal City Studios LLC, also known as Universal Studios, or simply Universal; common metonym: Uni, and formerly named Universal Film Manufacturing Company and Universal-International Pictures Inc.) is an Americ ...

. However, the new entertainment conglomerate he created had a brief life, before needing a strategic partner. Bronfman Jr., then led Seagram into a controversial all-stock acquisition by French conglomerate

Vivendi Vivendi SE is a French mass media holding company headquartered in Paris. Widely known as the owner of Gameloft, Groupe Canal+, Havas, Editis, Prisma Media, Vivendi Village and Dailymotion, the company has activities in television, film, video ...

in 2000. Bronfman Jr., became chief of the new company, Vivendi Universal, but the Seagram company effectively lost control of its entertainment businesses. Meanwhile, the beverage division—the core of Seagram was acquired by

Pernod Ricard Pernod Ricard () is a French company best known for its anise-flavoured pastis apéritifs Pernod Anise and Ricard Pastis (often referred to simply as ''Pernod'' or '' Ricard''). The world’s second-largest wine and spirits seller, it also pr ...

and Diageo and divided between the two firms. Seagram, for all intents and purposes, ceased to exist. In December 2001, Bronfman announced he was stepping down from an executive capacity at Vivendi Universal, but remaining as vice chair of the board. In 2002, Bronfman joined private investment firm Accretive LLC as General Partner. The firm focuses on conducting deep market research and hand-selecting firms to back. Among its past projects are Accretive Health and Fandango (ticket service). Companies it currently backs include

human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ...

firm AlphaStaff and small-business insurance company Insureon.

Warner Music Group

On February 27, 2004, Bronfman finalised the acquisition of Warner Music Group and served as Chairman and CEO of the music company for the following 7 years. Bronfman helped to transform WMG by rapidly growing the company's digital music sales, redefining the relationships it has with artists and diversifying its revenue streams through its expansion into growing areas of the music business. WMG held an initial public offering of stock in 2005 (NYSE: WMG), and is now the only standalone major music company to be publicly traded. While the stock has fallen from a high in 2005 of over $30 per share, the company has nonetheless produced double-digit growth in its digital business, increased its market share and delivered stable revenue performance despite a drastic music industry decline during the same period. In 2008, ''The New York Times'' reported that WMG's Atlantic Records became the first major record label to generate more than half of its music sales in the U.S. from digital products. In May, 2011, WMG and Bronfman announced the company's sale to Access Industries for US$3.3 billion cash. Access is controlled by Russian-born billionaire Len Blavatnik, a former board member and still-substantial shareholder of WMG at the time of the purchase announcement. The sale, coming after a three-month bidding process, "serves the best interests of stockholders as well as the best interests of music fans, our recording artists and songwriters, and the wonderful people of this company," according to a statement released by Bronfman. CEO Bronfman would continue in his post in the transaction, though further job cuts were also foreseen. The investment group which has owned the company since 2004 was said to have received a positive return on its investment. In August 2011, Bronfman became Chairman of Warner Music and Stephen Cooper became CEO. He stepped down as Chairman on January 31, 2012. In February 2017, it was reported that Meredith Corp. and a group of investors led by Bronfman Jr. were considering pursuing Time Inc. He is currently the chairman of Endeavor, an international non-profit development organisation that supports entrepreneurs.

Waverley Capital

In 2017, it was announced that Bronfman would be launching a new venture capital firm called Waverley Capital, alongside Luminari Capital founder Daniel Leff. This firm would invest in "innovative and disruptive" companies within both technology and entertainment, with offices in New York and Palo Alto, California, with a Los Angeles office expected to open in the future.

Music career

In 1973, Bronfman began a songwriting career under the pseudonyms Junior Miles and Sam Roman. He often collaborated with Bruce Roberts on songs like "Whisper in the Dark", which he gave to

Dionne Warwick Marie Dionne Warwick (; born December 12, 1940) is an American singer, actress, and television host. Warwick ranks among the 40 biggest U.S. hit makers between 1955 and 1999, based on her chart history on ''Billboards Hot 100 pop singles ch ...

to record in thanks for introducing him to his first wife, Sherry. Bronfman also co-wrote " To Love You More", which was recorded by

Celine Dion Céline Marie Claudette Dion ( ; born 30 March 1968) is a Canadian singer. Noted for her powerful and technically skilled vocals, Dion is the best-selling Canadian recording artist, and the best-selling French-language artist of all time. Her ...

, and

Barbra Streisand Barbara Joan "Barbra" Streisand (; born April 24, 1942) is an American singer, actress and director. With a career spanning over six decades, she has achieved success in multiple fields of entertainment, and is among the few performers awar ...

's "If I Didn't Love You".

Personal life

Edgar M. Bronfman, Jr., is the son of

Edgar Bronfman, Sr. Edgar Miles Bronfman (born June 20, 1929 – December 21, 2013) was a Canadian-American businessman. He worked for his family's distilled beverage firm, Seagram, eventually becoming president, treasurer and CEO. As president of the World Jewish ...

, the billionaire businessman and longtime president of the

World Jewish Congress The World Jewish Congress (WJC) was founded in Geneva, Switzerland in August 1936 as an international federation of Jewish communities and organizations. According to its mission statement, the World Jewish Congress' main purpose is to act a ...

who died aged 84 in 2013. He is the half-brother of Clare Bronfman, who as a 39-year-old was charged in 2018 in a NXIVM sex-trafficking case. In 1979, Bronfman married his first wife, the actress Sherry Brewer, in

New Orleans New Orleans ( , ,New Orleans

o Judaism O, or o, is the fifteenth letter and the fourth vowel letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''o'' (pronounced ), ...

which though well intentioned, was not the point." Bronfman and Brewer eloped and he and his father remained estranged. The couple had three children before they divorced in 1991: # Benjamin (born 1982) – Bronfman's eldest son with Sherry is also known as "Ben Brewer", a rock musician. Brewer was the guitar player and vocalist for the New York-based alternative rock band

The Exit The Exit was a New York City-based band indie/post-punk/reggae group, formed in 2000. The band's music blended 1980s dub and reggae with 1990s punk and indie rock. The band's members included Ben Brewer on lead guitar and vocals, and Gunnar Olse ...

. He also was engaged to

Mathangi "Maya" Arulpragasam Mathangi "Maya" Arulpragasam (born 18 July 1975), known by her stage name M.I.A. (an initialism for both "Missing in Action" and "Missing in Acton, London, Acton"), is a British rapper and singer. Her music combines elements of alternative ...

, a British recording artist, songwriter, painter and director of

Sri Lankan Tamil Sri Lankan Tamils ( or ), also known as Ceylon Tamils or Eelam Tamils, are Tamils native to the South Asian island state of Sri Lanka. Today, they constitute a majority in the Northern Province, live in significant numbers in the Eastern ...

descent, better known under the stage name of M.I.A. Her compositions combine elements of electronica, dance, alternative, hip hop and world music. They have a son, Ikhyd Edgar Arular Bronfman, born on 11 February 2009. # Vanessa, and #

Hannah Hannah or Hanna may refer to: People, biblical figures, and fictional characters * Hannah (name), a female given name of Hebrew origin * Hanna (Arabic name), a family and a male given name of Christian Arab origin * Hanna (Irish surname), a famil ...

(born 1987) – Actress and DJ. Hannah is probably best known for ''Beautified'', an App for setting last-minute beauty appointments. In 1993 Bronfman married Clarisa Alcock San Román, a Catholic, the daughter of Frank Alcock Pérez-Matos, a Venezuelan oil executive of half British descent, and Dinorah San Román Strup, her

Venezuelan Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...

mother. They have four children: Aaron, Bettina, Erik, and Clarissa.

Insider trading conviction

On January 21, 2011, Bronfman was found guilty in French court of

insider trading Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider informati ...

as Vivendi chief and received a 15-month suspended sentence and a €5m fine. Considering the jail sentences handed out to other executives for similar convictions, BNN reporter Michael Kane told CTV News "The fact that the judge suspended the jail time could be looked at as getting off lightly, perhaps." He has appealed the decision.

Stance on music copyright infringement

At the height of

file sharing File sharing is the practice of distributing or providing access to digital media, such as computer programs, multimedia (audio, images and video), documents or electronic books. Common methods of storage, transmission and dispersion include r ...

service

Napster Napster was a peer-to-peer file sharing application. It originally launched on June 1, 1999, with an emphasis on digital audio file distribution. Audio songs shared on the service were typically encoded in the MP3 format. It was founded by Sh ...

's popularity, Bronfman was a leading opponent of the illegal use of

peer-to-peer Peer-to-peer (P2P) computing or networking is a distributed application architecture that partitions tasks or workloads between peers. Peers are equally privileged, equipotent participants in the network. They are said to form a peer-to-peer ...

technology. As CEO of Universal, he helped lead the music industry's opposition to Napster, likening it to slavery and Soviet communism. In 2006, WMG was the first major media company to create a business model around user-generated content and, more recently, has been pushing for ways to monetise the popularity of P2P networks on college campuses. In late 2006 in an interview with Reuters, Bronfman caused a stir by admitting that his children have copyright infringing music. He claims to have delivered punishment for this but wants it to remain within the realm of the family. Lately, Bronfman may have revised his judgement. During the GSMA Mobile Asia Congress, he told the audience that mobile operators should not make the same mistakes that the music industry has: In 2010 Bronfman changed his philosophy on the music industry's online business models, stating that he does not support free advertising supported models. He said that WMG will focus on promoting services that require payment, that will appeal to the population that already pays for downloads in stores such as iTunes.

References

The Canadian Encyclopedia ''The Canadian Encyclopedia'' (TCE; french: L'Encyclopédie canadienne) is the national encyclopedia of Canada, published online by the Toronto-based historical organization Historica Canada, with the support of Canadian Heritage. Available f ...

{{DEFAULTSORT:Bronfman, Edgar Jr. 1955 births Living people American billionaires American people of Jewish descent American people of Russian-Jewish descent American mass media owners American music industry executives Edgar Bronfman Jr. Collegiate School (New York) alumni Businesspeople from New York City Seagram American businesspeople convicted of crimes American chairpersons of corporations Lehman family Carl M. Loeb family NBCUniversal people Universal Music Group