Don Jazzy puts Mavin Records up for sale
The label head, DonJazzy, first hinted on the idea of a possible sale for the right offer in August.
Nigerian Don Jazz is the owner of Mavin Records. Internet photo
NewVision Reporter
@NewVision
Valued at over sh460b ($125m), Billboard has reported that one of Africa’s top music record labels, Nigeria’s Mavin Records, is open to a sale.
The label head, DonJazzy, first hinted on the idea of a possible sale for the right offer while on the Zero Conditions Podcast in August.
American music label Universal Music Group (UMG) and South Korean entertainment company HYBE are leading the pack of those seeking to acquire the music juggernaut. The record label in the past established a working relationship with UMG in the area of distribution through its subsidiary Virgin Music that distributes the records of some Mavin Records artistes in the U.S.
The Nigerian label has had a huge influence on the continent, contributing to the success of a number of artistes – Korede Bello, Wande Coal, Tiwa Savage, Reekado Banks, Di’Ja, John Drille, Rema, Ayra Starr, plus a host of others.
According to BillBoard, an investment and sale of the label could rise from its current value of sh460b to sh560b, or over sh740b.