Don Jazzy set to sell majority stake in Mavin label to Universal Music Group

Since establishing the Mavin record label, Don Jazzy has orchestrated a symphony of remarkable success and global acclaim, propelled by his keen discernment for exceptional talent and visionary signings that have thrust the label into the global spotlight. In a recent development, leading music conglomerates worldwide have expressed keen interest in investing in Mavins, a testament to its unparalleled influence and appeal under Don Jazzy's stewardship. Notably, Don Jazzy remains receptive to these enticing offers, poised to explore new horizons and opportunities for the label's continued growth and prominence on the international stage


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.

According to the reports, the deal is subjected to regulatory approval. An agreement is expected to be reached by the end of Q3 2024.
Investment firm Kupanda Capital will remain a minority investor and strategic advisor in the business once the transaction closes, although another investor, TPG, will fully exit as part of the deal.
Also, Don Jazzy and Tega Oghenejobo will maintain their status as CEO and COO, respectively.
Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people,” UMG boss Sir Lucian Grainge said.
With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together.”

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.

 

 

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