Michael Lynton Joins Warner Music Board
Former Sony Entertainment chief Michael Lynton is joining the Warner Music board of directors as non-executive chairman, a source close to the situation confirmed to Variety. The news was first reported by Music Business Worldwide.
The decision was ratified at a board meeting before during Grammy week, the source said; an official announcement is expected soon, once the 8K and other details are finalized.
Lynton, who is currently chairman of Snap, is one of 11 board members including Access Industries founder and WMG owner Len Blavatnik, WMG CEO Steve Cooper, and the company’s CEO of recorded music Max Lousada, along with Axel Springer CEO Mathias Doepfner, economist Noreena Hertz. He will serve in a non-executive role and his participation is expected to be advisory.
WMG is coming off of a strong 2018, in which its revenue exceeded $4 billion for the first time in company history, it announced in its earnings report in December. Over the past year the company has rebuilt its Warner Bros. label — enlisting co-chairmen Aaron Bay-Schuck and Tom Corson — and its publishing division, which saw CEO Jon Platt leaving to take the helm at Sony/ATV and being replaced by the tandem chairman team of new CEO Guy Moot, who is leaving Sony/ATV and starts in April, and recently appointed COO Carianne Marshall.
“We’ve had another terrific year and revenue exceeded $4 billion for the first time in our 15-year history as a standalone company,” Cooper said in announcing the results. “We continue to invest in our business for the benefit of our recording artists and songwriters and to fuel our long-term growth.”