It was a little over a year ago that then Warner Music Group CEO Lyor Cohen decided to exit the label after it was sold to Russian money bags Len Blavatnik for $3.3 billion. Lyor Cohen who spent most of his career at Def Jam, didn't share any details about a long planned entertainment venture he's kept under wraps. The only thing known by the music industry public is that he was going to launch something, but he would be taking his time to build it from the ground up. Not since Clive Davis was ousted from Arista Records has the music industry experienced such anticipation about a new venture by a top music chief. This week some light finally shined on Mr. Cohen's planned venture, or at least the financing of the venture. Technology powerhouse Google, is said to be injecting around $5 million in the new company that will house record label, artist management and we suspect some kind of digital music operation. The company will reportedly be a partnership between Mr. Cohen, former Def Jam and Warner Music Group exec Kevin Liles who currently runs KWL management and former Warner Bros Records Chief Todd Moskowitz. No name has been announced, but the launch has been laced with rumors of a $500 million financing and that it would be a partnership between Cohen and former Murder Inc Records boss Irving (Irv Gotti) Lorenzo. But as it turns out, Cohen and company are still trying to lock down office space before any further announcements are made regarding a name, roster of clients, website, executive management etc.
