- In a seismic shake-up within the music industry, Universal Music Group, one of the titans in the global music scene, is on the brink of clinching a substantial ownership stake in Mavin Music Label, the brainchild of the renowned Don Jazzy.
- This impending acquisition, slated for completion by the conclusion of the third quarter this year, marks a pivotal moment for both entities.
Renowned Nigerian music producer Michael Ajereh, famously known as Don Jazzy, is poised to finalize a monumental deal with the Dutch-American multinational music powerhouse, Universal Music Group (UMG).
The latest scoop from Musicweek unveils that Universal Music Group, a formidable entity ranked among the top three music corporations globally alongside Sony Music and Warner Music Group, is primed to secure a majority investment in Don Jazzy’s Mavin Global.
Since its inception in 2012, Mavin Label has served as the nurturing ground for a plethora of musical prodigies, boasting a roster that includes the likes of Rema, Ayra Starr, and Johnny Drille, among others.
In October 2023, Billboard reported that Mavin Records “is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group, HYBE and strong interest from music asset investors in the financial sector, according to sources.”
In a podcast interview in January 2024, Mavin CEO, Don Jazzy confirmed that the label was being courted by foreign investors.