👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

EntertainmentNews

Universal Music Group buys majority stake in Mavin Records

Universal Music Group has acquired a majority stake in Nigerian record label, Mavin, DAILY POST reports

UMG in a statement released on Monday, said the deal remains subject to regulatory approval and is expected to close by the end of Q3 2024.


👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

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.

The deal will see Mavin founder and CEO Don Jazzy and COO Tega Oghenejobo continuing to run the company.JAMB Portal

“Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people,” UMG boss Sir Lucian Grainge said.

Read Other News:

With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together.”NYSC Portal

DAILY POST recalls that 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.”InformationGuideNigeria

In a podcast interview in January 2024, Mavin CEO, Don Jazzy confirmed that the label was being courted by foreign investors.

Check JAMB Result

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Check and Confirm: How much is Dollar to Naira

📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing. Whatapp: 08088735884

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker