Bronfman & Pals Pocket Another $15 Million From WMG

Staffing cuts and dropped artists followed the bargain basement purchase of the Warner Music Group by Edgar Bronfman Jr. and his investment group.

But the pain is not being shared in the executive suite according to a recent SEC filing. Bronfman, Thomas Lee Partners and the other major investors who together hold 80% of the company just split $15 million (4/5th’s of the $19.3 million dividend). According to the same statement WMG will pay as much as $80 million in total dividends this year reaping $64 million for Bronfman and his pals.

Resources: Marketwire