Who needs to make money in music when can make it in real estate and the stock market?
Just week's after Lyor Cohen sold a bunch of WMG stock in part to finance a multi-million dollar mansion tear down in the Hamptons, CEO Edgar Bronfman Jr. has reportedly bought the fomer Muppets Mansion in NYC for $28.5 million. It's the sixth multi-million dollar house flip for Bronfman in the last 12 months according to the New York Observor.
Meanwile, newly promoted EVP and CFO Steven Marci was granted 214,080 additional stock options after the market closed for the week. The bulk of the options convertible in ten years rewards Marci for a stock price of $7.56 or $1.04 lower than Friday's $8.60 cent closing price.