New Telegraph

Mavins Record Up For Sale – Don Jazzy

Top Nigerian music producer and entrepreneur, Michael Collins Ajereh, popularly known as Don Jazzy has opened up on the possibility of selling Mavin Records.

According to a report from Billboard, Don Jazzy is looking for a staggering $200 million (about N153 billion) for his renowned music label.

Sources cited in the report that the bids have come from the Universal Music Group, HYBE as well as from music asset investors in the financial sector.

Don Jazzy reportedly seeks investment or sale of Mavin Records: It’s about to be a worldwide label” Details of the Mavin record deals, Shot Tower Capital is said to be the company that will facilitate the negotiations for the potential acquisition, and the proposed valuation falls within the range of $125 million to $200 million.

It was said that this may or may not involve the music catalogue of signees under contract at the label.

Also, it was added that rather than an outright sale, the label is also considering an equity investment, with several interested parties already expressing their intentions.

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Also, Don Jazzy is expected to retain a significant level of control and influence over the label’s future direction and operations, even in the event of a sale and wants control over the brand destiny.

Don Jazzy founded Mavin Records in 2012 after his split with Dapo “D’Banj” Oyebanjo. The record label has been a powerhouse in Nigerian and global music scenes, boasting a roster of talented artists, Some of the talents include Rema, Ayra Starr, Crayon, and LadiPoe, among others.

The label has gone on to further the careers of established artists like Tiwa Savage, D’Prince, and Dr Sid and launched the careers of Reekado Banks, Korede Bello, and Di’ja.

Rema and Ayra Starr are stellar assets of the label. In the US, Rema has 287 million streams, and Ayra Starr has 203 million streams.

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