Mavin Records, the record label owned by Michael Collins (aka Don Jazzy) and the home of Rema, Ayra Starr is seeking investments or an outright sale according to Billboard. It is also reported that significant bids have emerged from industry giants like Universal Music Group (UMG) and HYBE.
The estimated value of the deal falls within the range of $125 million to $200 million, and Shot Tower Capital, an independent investment bank, is actively facilitating the negotiation process. Mavin Records is strategically making this move to secure funding for its expansion, particularly in light of the expected growth of the African music industry globally in the coming years, according to sources cited by Billboard.
The objective of this move is to secure funding that will position the label for further growth. It is anticipated that the African music industry will gain significant prominence on the global stage, much like how Latin and K-pop have made a significant impact on the international music market in recent years, as stated in the report.
Even if the investment comes from a strategic investor like UMG or HYBE, or any other music label or company, the Mavin management team, led by Don Jazzy, is expected to retain control over the company’s future direction.
The media outlet emphasized that the companies mentioned in the report either chose not to provide comments or did not respond to comment requests at the time the article was published. As of the publication of the report, Don Jazzy had not issued any comments regarding the matter.
Founded in 2012 by Michael Collins after the discontinuation of Mo-hits records label owned by Don Jazzy and D’Banj, Mavin Records has emerged as a significant player in African music.
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