Don Jazzy: Universal Music Group to Acquire Majority Investment in Mavin Record, Details Emerge

One of the top three global music corporations, Universal Music Group, is set to buy out a majority stake in Don Jazzy’s Mavin music label The reports revealed that the acquisition is expected to be finalised by the end of the third quarter of this year Mavin label, created in 2012, is currently home to Rema, Ayra Starr, Johnny Drille, among other talented acts .

Nigerian ace music producer Michael Ajereh, aka Don Jazzy’s Mavin Records, is set to seal a deal with Dutch–American multinational music corporation Universal Music Group, also known as UMG.

Don Jazzy was looking for a staggering $200 million( about N153 billion) for the renowned music label in 2023.

The latest update via Musicweek revealed Universal Music Group, which is considered one of the top three music corporations in the world alongside Sony Music and Warner Music Group, is set to acquire a majority investment in Don Jazzy’s Mavin Global.

Details about Mavin Record’s deal with UMG According to the reports, the deal is subjected to regulatory approval. An agreement is expected to be reached by the end of Q3 2024.

The reports revealed that despite UMG’s acquisition, Mavin will maintain autonomy over its strategy and future talent development. Also, Don Jazzy and Tega Oghenejobo will maintain their status as CEO and COO, respectively. Mavin, which is currently home to Rema, Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N and recently signee Lifesize Teddy, will see their music amplified through UMG’s global network of labels and businesses.

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