NEAR TRUTHS: SUCCESSION (THE 2023 SEASON)

Chatter about the WMG succession saga remains deafening, with some insiders breathing a heavy sigh of relief as word comes that Lyor Cohen has been roundly rejected by the decision-making cabal. Robert Kyncl, having exited YouTube, remains an oft-repeated name and the early chalk, while Conde Nast CEO Roger Lynch could also be in the mix for the top post after Steve Cooper steps down next year. WMG board chairman Michael Lynton and board member/ entrepreneur Ceci Kurzman are said to be playing key roles in the search.

Then there is the question of Recorded Music CEO Max Lousada, who, it’s rumored, has been meeting with top CEO candidates. Lousada is widely seen as setting the cultural tone at the company and is reliably called upon when WMG seeks to close an artist, lure an exec or acquire a company. Given considerable autonomy by Cooper, he also, crucially, has Len Blavatnik’s ear.

Though the amiable, brainy Brit—who’s been keeping his cards close to the vest—has frequently been touted as the natural internal candidate for the CEO job, insiders say he’s not especially interested in the corporate duties the post would entail: dealing with Wall Street, narrating PowerPoints about currency fluctuations and so forth. Though he played a significant role in WMG’s 2020 IPO, Max is a music guy and, we’re told, would much prefer to retain that focus. So why has he been in those candidate meetings? Is Blavatnik seeking his input? Is some kind of partnership being contemplated with the incoming CEO? In any case, Lousada’s viewpoint seems to be integral to the conversation.

Bloomberg, which ran a piece putting Kyncl in the lead for the job, is also reporting that SiriusXM’s Scott Greenstein and UMPG topper Jody Gerson were spoken to about the job. Gerson is quoted in the piece as saying she remains “totally committed” to UMG.

Photo of Robert Kyncl by BazzaJ–Own work, CC BY-SA 4.0