Lyor’s catching fire
Personal, professional wins for hip-hop big
I T’S all coming together personally and professionally for hiphop mogul Lyor Cohen. The former Warner Music boss is planning his wedding to model Xin Li in France, and his new independent record label is bearing fruit.
The 17monthold venture, 300 Entertainment, released Fetty Wap’s first album Friday on the heels of a summer of hits.
Wap — who grew up in Paterson, NJ, is currently No. 5 on the Billboard Artists Chart, which looks at radio play, sales, streaming and social data. His songs, “My Way,” “Trap Queen” and “Again,” were all Top 40 hits.
Cohen is rumored to be in talks for more capital to expand his label — but some close to the company say he has no need to raise more cash, which would dilute his stake. Cohen’s team, some point out, has been living frugally, even flying commercial, for example.
Cohen’s backers include Google, investment company Columbus Nova and Russian oligarch Viktor Vekselberg.
We hear that 300 Entertainment may expand its operations beyond simply being a music label and tie up with a streaming service, possibly to provide content. Next up for Cohen: establishing other artists, such as Australian singer Conrad Sewell, as household names.
Justin time
Once a young star has fallen from popularity, it’s hard to get him or her back on track. So music industry honchos are studying the Justin Bieber playbook hard, sources tell The Post.
A year ago, the Biebs was dropping his shorts after getting booed at the Fashion Rocks event, getting in trouble with the cops and eliciting some harsh reaction in general from the music press.
But something surprising happened this summer: He hit No. 1 earlier in September with the song “What Do You Mean?” (currently No. 2). Some say Bieber’s renewed popularity has much to do with heavy scripting by his manager, Scooter Braun.
They attribute it to savvy handling of his social media, the teary end to his VMAset and his newwfloppyfloppy forelock.
Others point simplyly to his newnew colcollaborators, Skrillex and Diplo, who have given Bieber a new group of fans thanks to his novel electronic dadancemusicic sound.
As Bieberber (photo right) saidd himself at the VMAs,As, “Life is a journey. The fall allows youou toto getget up stronger.”
We’ll see just how muchmuch stronger when Bieber’ser’s new album faces offf against One Direction’son’s in November.
‘Hole’ truth th
Turns out Wall Street’s regulators don’t like the taste off their own medicine.
Promontory Financial Group, a prominent DCbased bank advisor led by former Comptrollerr of thethe CurCurrency Eugene Ludwig wig, tried to buy its way out of admittingting wrongdoing last month for helpingng a bankbank whitewhitewash its business withith terrorism sponsponsor Iran, The Post hasas learned.
PFG’s advisory boardard includes Arthur Levitt Jr. and Maryy Schapiro,Schapiro both exchairs of the Securitiesies and ExchangeExchange ComCommission, and Alan Blinder Blinder, former vice chairman of the Fed.
Last month, the Newew YorkYork Department of Financial Services saidaid Promontory “exhibexhibited a lack of independentndent judgment” when it helped UK bank Standardndard Chartered avoid sanctions for its Irann business and banned PFG from doing businessiness in the state for six months.
Promontory quickly said it would sue the state regulregulator, and soon a draft of the lawsuit made its way into the Wall Street Journal. But duringduring marathonm meetings and through emails on Aug. 17 and 18, Promontory representatives tried to pay $2020 millionm — a third more than thethe DFSD wanted — to get out of admittingadm it did anything wrong,wr our Kevin Dugan reports.po The DFS, led by acting superintendentp Anthony Albanese, rejected the proposal.
Promontory backed off — andan agreed to pay the $15 millionli and admit that it “did not meetm the department’s currentren requirements for consultantstant performing regulatory compliancecomp work” — a watereddowndown version of the language the regulatorregul wanted.
RepresentativesRep for Promontorytory declinedd to comment.
Cruz lines
ConseConservative talk radio stations are awaiting a flood of cash from Republicancan presidentialpresi candidates desperate to distancdistance themselves from the pack.
OnOn FridFriday, Promise I, a super politicalcal action committee (PAC) supporting Sen. Ted Cruz, said it would spend $1 million on a national radio ad campaign to extol CrCruz’s virtues. The money is being spenspent on the Rush Limbaugh, Sean HanHannity and Laura Ingraham shows.
The pproCruz ads are due to run until the end of the year. Whether they’ll bluntb Donald Trump’s popularityularity remains to be seen, but the DonalDonald has all the free media he can saysa yes to at the moment.