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. ( d.b.a. Warner Music Group, commonly abbreviated as WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the " big three" recording companies and t ...

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 already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the ...

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 ...

and vice-chairman of

Vivendi Universal 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 ...

. Bronfman Jr. expanded and later divested ownership of the Seagram Company, and also worked as a

Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd Stree ...

and film producer, 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 Samuel Bronfman, (February 27, 1889 – July 10, 1971) was a Canadian businessman and philanthropist. He founded Distillers Corporation Limited, and is a member of the Canadian Bronfman family. Biography Samuel Bronfman was born in Otaci, ...

, patriarch of one of the wealthiest and most influential Jewish families in Canada. The

Bronfman family The Bronfman family is a Canadian family, known for its extensive business holdings. It owes its initial fame to Samuel Bronfman (1889–1971), the most influential Canadian Jew of the mid-20th century, who made a fortune in the alcoholic distill ...

gained its fortunes through the

Company, an alcohol 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

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 with ...

whose company was a predecessor of

Shearson Lehman Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward ShearsonAmerican Express) and

Frances Lehman The Lehman family is a prominent family of Jewish German-Americans who founded the financial firm Lehman Brothers. Some were also involved in American politics. Members have married into the prominent Morgenthau, Loeb, and Bronfman families. The ...

(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 ''The Blockhouse'' is a 1973 drama film directed by Clive Rees and starring Peter Sellers and Charles Aznavour. It is based on a 1955 novel by Jean-Paul Clébert. It was filmed entirely in Guernsey in the Channel Islands and was entered into t ...

''. 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 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, and in film entertainment through MCA 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 Ameri ...

. 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 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 R1 RCM Inc. is an American revenue cycle management company servicing hospitals, health systems and physician groups across the United States. The company provides end-to-end revenue cycle management services as well as modular services targeted ...

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 Access Industries, Inc. is an American privately held multinational industrial group. It was founded in 1986 by businessman Leonard "Len" Blavatnik, who is also its chairman. Access's industrial focus is in four areas: natural resources and c ...

for US$3.3 billion cash. Access is controlled by Russian-born billionaire

Len Blavatnik Sir Leonard Valentinovich Blavatnik, russian: Леонид Валентинович Блаватник, Leonid Valentinovich Blavatnik (born June 14, 1957) is a Ukraine-born American-British business magnate and philanthropist. As of March 202 ...

, 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. Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake ''Time'', ''Sports Illu ...

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 to record in thanks for introducing him to his first wife, Sherry. Bronfman also co-wrote "

To Love You More "To Love You More" is a song by Canadian singer Celine Dion, written by David Foster and Edgar Bronfman Jr., writing under the pen-name Junior Miles. It was released as a single in Japan on 21 October 1995 and became a hit, reaching number one ...

", 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., 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 as ...

who died aged 84 in 2013. He is the half-brother of

Clare Bronfman Clare Bronfman (born 1979) is an American heiress, convicted felon and former leader of NXIVM, a multi-level marketing company and cult based near Albany, New York. She is the youngest daughter of billionaire philanthropist and former Seagram ...

, who as a 39-year-old was charged in 2018 in a

NXIVM NXIVM () is the name commonly used to describe the personality cult of imprisoned racketeer and sex offender Keith Raniere. NXIVM is also the trademarked name of the defunct corporation that Raniere founded, which provided seminars and vide ...

sex-trafficking case. In 1979, Bronfman married his first wife, the actress Sherry Brewer, in

New Orleans New Orleans ( , ,New Orleans

. Bronfman's father did not approve of marriage. "I very much wanted for him to end the relationship, because I told him, all marriages are difficult enough without the added stress of totally different backgrounds", Bronfman Sr. wrote in his memoirs. "Sherry offered to convert o Judaism 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, a British recording artist, songwriter, painter and director of Sri Lankan Tamil 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 (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 British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, ...

descent, and Dinorah San Román Strup, her Venezuelan 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 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'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