Edgar vs. Madonna

MATERIALISM GIRL: A face-off between Edgar Bronfman Jr. and Madonna less than a month after he acquired Warner Music Group back in March, 2004, is recounted in Fred Goodman’s upcoming Fortune’s Fool as reported by the N.Y. Daily News this morning. The Material Girl, who was seeking $60 million for her share of Maverick Records from Time Warner, which owned 40% of the label, was offered just $15 million from new owner Bronfman. Accusing the label of “treason,” she filed a lawsuit, before eventually selling her 30% share in Maverick for $17 million, only $2 million more than Edgar had originally offered. Three months later, Bronfman and WMG ruler Lyor Cohen presented her Madgesty with a diamond bracelet that mollified the pop diva. “The gift seemed to hit the right note,” writes Goodman. “’She was like a little girl,’ Bronfman recalled. ‘It broke the ice.’” Of course, a little more than three years later, she left Warner to sign a 10-year, $120 million deal with Live Nation. (6/14a)