Former Warner Music chief executive Lyor Cohen to reportedly preparing to launch his next venture, including his own record label.

After eight years at Warner, the 53-year-old now has plans to launch his own firm that will invest in outside ventures and help cultivate talent, according to the New York Post, which calls the proposed company a hybrid business.

Cohen is said to be talking to a handful of strategic investors to raise money for the new venture.

During his ...