Don Jazzy sells Mavin Records to Universal Music Group
Universal Music Group (UMG), one of the world’s largest music companies, has announced its acquisition of the majority stake in Mavin Records, founded by renowned music producer Michael Ajereh, popularly known as Don Jazzy.
In a press statement on Monday, UMG said the agreement was still awaiting approval from regulatory authorities, and it is anticipated to be finalised by the third quarter of 2024. However, the company did not disclose the value of the acquisition.
“Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin). The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024,” it stated.
Last year, Billboard reported that Don Jazzy sought to explore options for a sale or potential investment in the record label founded in 2012.
According to UMG’s statement, Mavin will retain independence in shaping its strategies and nurturing future talents without external interference.
It added, “As part of the agreement, founder and CEO Don Jazzy and COO Tega Oghenejobo will continue leading the company.”
Mavin Records is a talent hub with stars like Rema, Ayra Starr, Crayon, Ladipoe, Johnny Drille, Magixx, Bayanni, Boyspyce, DJ Big N, and Lifesize Teddy.
In an interview, Don Jazzy said he was “proud of the artistes, careers and the brand they have built that have made Mavin the force it is today.”
“In this historic partnership with UMG, we will continue that mission in Africa and across the globe,” he added.
Reacting to the development, Lucian Grainge, the chairman and CEO of UMG, said, “With Don Jazzy, Tega, the Mavin Global team and their artist roster, we’ve found ideal partners with whom to grow together.”
Should this agreement be finalised, artistes signed to Mavin Records would be restricted from using their songs on TikTok due to the existing agreement between UMG and TikTok.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Ogun: Police nab child traffickers, rescue three children in Ibafo
The police command in Ogun has arrested three persons for the theft and sale of children in Ibafo.
Africa
Spanish lawmakers vote to give citizenship to Western Saharans
Spanish lawmakers have voted for legislation that would grant citizenship to thousands of Western Saharans.
Africa
Nigerian lawmakers, officials barred from visits to South Africa, SA-hosted legislative events boycotted over xenophobia
The National Assembly has suspended all official visits to South Africa and directed lawmakers to boycott conferences and other events hosted or co-hosted by the country.
Economy
Flutterwave offers seamless digital participation in Dangote IPO
Through Flutterwave’s payments infrastructure, investors can digitally fund their share subscriptions through Chapel Hill Denham’s subscription platform.
Economy
Micron’s Taiwan workers to receive bonuses equaling 35 to 68 months’ salaries
Micron has announced that its direct labour employees in Taiwan will receive cash bonuses of 35 to 68 months’ pay for 2026.
Politics
Gov Sani appoints new commissioners, aides to deepen reforms
Governor Uba Sani has appointed three new commissioners, 45 aides, and 40 board members to accelerate his administration’s development agenda and deepen institutional reforms.
