Lyor Cohen, the man that’s responsible for bringing you some of your favorite rappers, looks to be in the planning stages of a new business venture. One that’s going to include many facets of the music industry. Check out the story below.

Music mogul Lyor Cohen is lining up his next act.

After eight years at Warner Music Group where he worked with the Black Keys, Bruno Mars and Cee Lo Green, the 53-year-old plans to raise money to launch his own firm, The Post has learned.

The hybrid business would house its own record label, invest in outside ventures and help cultivate talent, according to several executives familiar with his plans.

Warner Music’s former chief executive is talking to a handful of strategic investors with an eye toward reigniting his industry network, which includes the likes of Jay-Z and Kanye West.

“He isn’t going to the established music labels. He’s going to strategics for a new investment fund and a record label,” said one source.

While the music business has been shrinking for years, the industry is still struggling to figure out how to cut costs and compensate artists. That situation has been complicated by the digital shift and the rise of streaming services such as Spotify and Pandora.

One source said Cohen is also mulling digital investments. He declined to comment on Friday.

Cohen, who was recruited by former Warner Music CEO Edgar Bronfman Jr. in 2004, stepped down last year after the music major was sold to Len Blavatnik’s Access Industries.

 

Via NY Post & AlLindstrom