Business

Warner Music’s Bronfman to step down as chairman

Warner Music Group Chairman Edgar Bronfman Jr., who stepped down as CEO earlier this year, is giving up the chairman’s seat as well, The Post has learned.

Bronfman will remain a corporate director at the No. 3 music company, which was sold to Len Blavatnik’s Access Industries for $3.3 billion in May.

Bronfman, who will relinquish the chairmanship on Jan. 31, said his other duties are taking up so much time that he needed to give up the role, according to a memo sent to staff today.

The memo didn’t say who would take over as chairman of the board.

Bronfman spearheaded Warner’s acquisition from Time Warner for $2.6 billion and later helped broker its sale to Access Industries.

However, Bronfman didn’t get to see his long held dream of merging Warner with rival EMI, which will be broken up and sold to Universal Music Group and Sony Corp.