Breaking News: Mavin Records Explores Multi-Million Dollar Sale or Investment Deal

 

Mavin Records, a leading Nigerian and African music label, is reportedly exploring investment opportunities or the possibility of an outright sale.

According to a recent article published by Billboard on October 6, 2023, Mavin Records is currently in discussions to secure external investment, which could involve the acquisition of a portion of the label or an outright sale.

The report indicates that several investment firms and major record labels, including Universal Music Group (UMG) and HYBE, have expressed interest in this potential deal.

Billboard's report suggests that the investment or sale could be valued at approximately $125 million initially, with the potential to increase to as much as $150 million or even $200 million.

Notably, Mavin Records has previously entered into collaborative agreements with international entities. For instance, Rema's music in the United States is distributed by Virgin Music, an independent distribution company under UMG.

Founded by Nigerian music executive Don Jazzy, Mavin Records boasts an extensive catalog featuring renowned artists such as Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di'ja, Rema, Ayra Starr, Johnny Drille, Ladipoe, Boy Spyce, Bayyani, and the recently signed Lifesize Teddy.

The news of Mavin Records potentially being up for sale aligns with Don Jazzy's earlier remarks. During an appearance on the Zero Conditions Podcast, he indicated his openness to selling the label if the right offer materializes. However, he emphasized his intention to continue playing a pivotal role in overseeing the company's operations even in the event of a sale.