Home Entertainment Universal Music Group Acquires Majority Stake in Nigerian Label Mavin
Entertainment

Universal Music Group Acquires Majority Stake in Nigerian Label Mavin

125

Universal Music Group has finalized the acquisition of a majority stake in Mavin, a prominent Nigerian record label. The deal, which is pending regulatory approval and anticipated to conclude by the end of Q3 2024, includes Kupanda Capital retaining its role as a minority investor and strategic advisor post-transaction, while TPG will fully divest as part of the agreement.

Under this arrangement, Mavin’s founder and CEO, Don Jazzy, along with COO Tega Oghenejobo, will continue to lead the company. Sir Lucian Grainge, CEO of UMG, expressed confidence in the partnership, citing Mavin’s exceptional talent pool and leadership as key factors in the decision.

This acquisition comes after reports in October 2023 indicated Mavin’s exploration of investment opportunities, with interest from Universal Music Group, HYBE, and other music asset investors. Don Jazzy confirmed these discussions in a podcast interview in January 2024, highlighting Mavin’s attractiveness to foreign investors.

About The Author

Related Articles

Entertainment

Nigeria’s Highest-Grossing Actors Earn Nearly N3 Billion in 2023

In 2023, Nigeria’s top-grossing actors collectively earned nearly N3 billion from their...

EntertainmentWorld

Chelsea Manalo Crowned Miss Universe Philippines 2024

Chelsea Manalo, the daughter of an African-American father and a Filipino mother,...

Entertainment

Liam Hemsworth As Geralt of Rivia in The Witcher Season 4 First Look

Liam Hemsworth has stepped into the iconic role of Geralt of Rivia,...

Entertainment

Lord Debling Vs Colin Bridgerton: Nigerians Decide

In the dazzling world of Bridgerton, where luxury and romance intertwine, Nigerians...