Last week, the company confirmed its acquisition of a controlling stake in Tempo Music, in a deal understood to have valued Tempo at north of $450 million. The transaction marked the largest company acquisition under Robert Kyncl, since he became WMG CEO in 2023.
The Tempo deal also marked the first major acquisition at Warner for ex-Goldman Sachs exec Michael Ryan Southern, who Kyncl hired as EVP, Corporate Development at WMG last year.
Today (February 10), WMG reveals that it is strengthening its Corporate Development team led by Michael Ryan Southern. According to a press release, Warner is seeking to “turbocharge its growth” via M&A.
The move sees Alfonso Perez-Soto named EVP, Corporate Development, focusing on Recorded Music, and Michael LoBiondo appointed SVP, Corporate Development, focusing on Publishing.
The pair report to Michael Ryan Southern (EVP, Chief Corporate Development Officer), who said in a statement today that, with these two appointments, the company now has “a strong M&A machine working together to find opportunities for the entire WMG group”.
WMG added in the press release that the new setup gives the company a “dealmaking expert for each side of the business” and will allow WMG to “target potential investments and acquisitions across a range of music rights and technology that will help accelerate the growth of the business”.
Perez-Soto has spent much of the last two decades at Warner Music, starting his career there by making deals in the fast-growing Latin American market during the late 2000s, and later taking on a broader business development role tapping opportunities across a wider range of emerging markets.
Since 2018 he has served as Warner Music’s leader in Emerging Markets, with overall responsibility for Africa, Eastern Europe, India and the Middle East.
In that role, he designed and implemented what WMG calls a “faster growth strategy based on M&A, geographical expansion and organic artistic success”, which Warner Music adds, has “significantly expanded” its footprint in those “rapidly expanding” territories.
Recent deals struck in some of those territories include WMG’s acquisition of Qanawat Music in 2022 and a minority stake in India’s SkillBox.
The leaders of Warner Music’s Emerging Markets territories who previously reported to Perez-Soto will now directly report to Simon Robson, President, EMEA, Recorded Music, WMG.
Michael LoBiondo, meanwhile, is described by WMG as a “seasoned dealmaker”. He has served as Head of Business Development for Warner Chappell Music, the music publishing arm of WMG, since 2021.
In that role he identified and executed strategic acquisitions and partnerships for the publisher’s frontline songwriters and repertoire of songs.
He previously held a number of roles at WMG, supporting a variety of business development and digital initiatives, including the acquisition of Parlophone Label Group and a number of Series A music technology investments.
“With these appointments, we now have a strong M&A machine working together to find opportunities for the entire WMG group.”
Michael Ryan Southern
Michael Ryan Southern said: “I’m delighted that Alfonso and Michael have joined our Corporate Development team. They are tenacious and curious leaders with a deep understanding of the music industry and its key players.
“With these appointments, we now have a strong M&A machine working together to find opportunities for the entire WMG group.
“We’ve committed to grow WMG through a mixture of organic and M&A activity. Now we’ve got a dedicated dealmaking beacon for each set of rights that’ll enable us to continue to improve our service to artists and songwriters.”
“Proper corporate development is an expedited way to achieve growth in revenue; access to catalogs and new rosters; acquire local know-how in territories and music genres; provide artist services; and bring in executive talent.”
Alfonso Perez-Soto
Alfonso Perez-Soto added: “I want to thank MRS and Robert for the opportunity to lead this initiative.
“As proven during my last six years leading Emerging Markets, proper corporate development is an expedited way to achieve growth in revenue; access to catalogs and new rosters; acquire local know-how in territories and music genres; provide artist services; and bring in executive talent.
“We added human factors to the financial factor, and the idea is to bring that experience to the whole Warner Recorded Music ecosystem so that we push this successful formula on a global basis.”
“Guy and Carianne have been tremendous partners and champions of strategic deals that create new opportunities for songwriters. I look forward to continuing this work in service of songwriters with support across the entire organization, and with collaboration of colleagues in recorded music as well.”
Michael LoBiondo
Michael LoBiondo said: “Guy and Carianne have been tremendous partners and champions of strategic deals that create new opportunities for songwriters.
“I look forward to continuing this work in service of songwriters with support across the entire organization, and with collaboration of colleagues in recorded music as well.”Music ComeOn
