Universal Music Group (UMG) has finalized its deal to acquire an 80 percent majority stake in Don Jazzy’s iconic label, Mavin Records.
The landmark transaction values the West African label between 125 million and 200 million dollars, making it one of the biggest record label acquisitions in African history.
Under the terms of the deal, Don Jazzy remains as Supreme Mavin Commander, while CEO Tega Oghenejobo continues leading day-to-day operations in Lagos.
UMG will provide global distribution, marketing power, and publishing resources to help Mavin’s roster of stars reach bigger global markets.
Mavin has birthed global superstars including Rema, Ayra Starr, Ladipoe, and Magixx, making it a key engine of Afrobeats’ international explosion.
The acquisition proves that global music corporations view Nigerian record labels as high-value long-term investments rather than short-term trends.
GhettotrendXclusive – Nigeria’s No.1 Source Of Global Music, Videos, News & Entertainment Updates.
