Lyor rumor du jour

LYOR’S MYSTERY MANAGEMENT COMPANY? Lyor Cohen has been secretly developing a management company for the past two years while working at Warner Music, a source told the N.Y. Daily News, claiming that he’s “decided the time is right to move forward.” Cohen is so private about his new business venture that the insider says he only refers to his new company by a “nonsensical” code name in emails and phone calls, which the source declined to divulge. “He’s working to bridge the gap between label and management,” said a second source, indicating Cohen wants to help record companies and bands work together more cohesively. “He has for some time now.” A WMG insider added, “He’s never been a corporate guy and his role here was becoming more and more corporate.” (9/27a)