Bronfman Heir Plotting His Comeback, in Music
Success of Edgar Bronfman Jr's deal to buy Warner Music from Time Warner for $2.6 billion hinges in large part on his conviction that embattled music industry can tame online piracy and reverse three-year sales slump; Bronfman is betting on untested new Internet business, sale of music online; unlike his earlier deal, when he sold his family's Seagram liquor empire for shares of Vivendi, this time he has assembled well-healed cadre of investors that shore his vision, including group led by Thomas H Lee Partners; Bronfman himself is expected to contribute $250 million to deal; in wooing investors, he argued that online music piracy is already abating thanks to lawsuits by music industry and legal online music sales by companies like Apple Computer and Wal-Mart; photo (M)
