Fortune's Fool tells the story of how the music industry has met its worst crisis, the Internet Age. When Edgar Bronfman, Jr, bought Warner Music Group from Time Warner, his track record consisted of dissembling the family business, Seagram. The resulting Universal-vivendi deal collapsed in less than two years, taking much of the Bronfman fortune with it. When he and his equity partners bought Warner, they turned a profit in just 14 months, but their problems, like those of the business as a whole, were just beginning. As soon as Edgar Jr. went to work at Seagram, he began move the company into entertainment business, financed by his sale of Seagram's 150 million shares of Dupont. That decision ruptured the board and the Seagram family, ended the 75 year history of Seagram. When Edgar Jr bought MCA from Masushita and then merged disastrously with Vivendi, and lost $3 billion, the failure...
Visa mer
Recensioner
Bli först med att recensera denna bok
