LRN Welcomes Warner Music Group Corp. to Roster of Media and Entertainment Companies
Multi-Year Agreement Will Foster and Promote Standards for Legal and Ethical Business Conduct
LOS ANGELES, April 10 -- LRN (www.LRN.com), a premier provider of legal, compliance, ethics management and corporate governance solutions, today announced a multi-year partnership with Warner Music Group Corp. (NYSE: WMG) for the development and rollout of a global ethics and compliance education program. This effort, the first enterprise-wide initiative of this scope for the company, will establish a shared understanding of ethical conduct for WMG employees around the world.
WMG joins other leading media and entertainment companies, including The New York Times Company, The Tribune Companies, The Walt Disney Company, Viacom and Universal Music Group, in partnering with LRN to ensure management and employees conduct themselves according to company standards.
Dov Seidman, CEO and Chairman of LRN, said, "Successful organizations take a long-term view of the market and the way they conduct business. In doing so, companies are being deliberate about their cultures, ensuring employees are united in their focus on doing things right. By making a long-term investment in its ethical health, WMG, a new public company, is in a great position to get things right from the start."
Edgar Bronfman, Jr., Chairman and CEO of Warner Music Group said, "The legal and regulatory requirements of a public company, particularly one that operates globally, are significant. WMG realized it needed a world-class partner to help proactively prevent risks from becoming liabilities, as well as to help us foster a strong and ethical corporate culture among our employees around the world. We are delighted to work with LRN -- an organization with proven success -- to establish this compliance and ethics initiative."
Over the three-year partnership, LRN will design and implement a customized ethics and compliance education program tailored to the ethical, legal and regulatory risks WMG faces both domestically and internationally. LRN will shape course content and delivery, drawing on the LRN web-based education platform. Early priorities include developing an online custom code of conduct course -- specific to WMG's high business standards -- in 10 different languages. LRN's role will extend from course and program design through implementation and ongoing management.
LRN provides governance, ethics and compliance management solutions that inspire, reinforce and set higher standards for ethically aware, responsible conduct in organizations throughout the world. The company works with leading companies, including The Dow Chemical Company, DuPont, Johnson & Johnson, Pfizer, Procter & Gamble and Raytheon. Our Governance and Ethics Management System(TM) (GEMS(TM)) offers global corporations an integrated solution for corporate governance, risk, ethics and compliance management. GEMS(TM) includes our flagship Legal Compliance and Ethics Center(TM) (LCEC(R)), a web-based education solution. LCEC(R) offers more than 200 courses, covering more than 3,600 topics, and has helped millions of employees around the world act more responsibly, work more productively and become better informed about the laws and values that govern their day-to-day decision making. Our decade long record in Expert Legal Research and Analysis delivers unparalleled legal research at significant cost savings to leading legal departments around the world. More information is available at www.lrn.com
About Warner Music Group (WMG)
Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Lava, Maverick, Nonesuch, Reprise, Rhino, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers.