U.S. News

Warner Music CEO Questioned in Vivendi Insider Tading Probe: Report


Warner Music chief executive Edgar Bronfman Jr. was questioned by a Paris court last week as part of an inquiry into alleged insider trading at Vivendi Universal (now Vivendi) in 2002, French daily Les Echos reported, citing sources close to the matter.

Warner's Bronfman Jr., formerly a board director at Vivendi Universal, was questioned for more than ten hours last Thursday, regarding the sale of Vivendi shares at the start of 2002, the sources told the paper.

Not long after Bronfman Jr sold his shares, Vivendi launched a share buyback program which was expected to be followed by a sharp drop in the share price, Les Echos said.