American Record Label Universal Music Group Buys Majority Stake In Mavins Record (DETAIL)

As announced by Mavin’s boss, Don Jazzy, via Instagram, UMG has partnered and is working to acquire a majority stake in the Nigerian music company Mavin Global.

Close to 80% of the shares of the record label will be bought by UMG in a deal pending regulatory approval. This deal will be completed in the 3rd quarter of this year, and Mavin Records will officially be an American record label operating in Nigeria, with hopes to expand to other African countries.

A staff of Mavin, identified as Tega also wrote:

Today signifies a significant milestone in the remarkable journey of Mavin Records. Over the past 12 years, our focus has extended beyond merely creating music; we have been influential in shaping cultures and breaking boundaries.

In the last dozen years and more, Mavin Records has not only survived the ever dynamic music industry but has flourished. We have nurtured exceptional talents, cultivated human capital, and redefined the role of a record label in the 21st century.

Now, on the brink of a new chapter, I am delighted to announce that our journey is poised to reach even greater heights. The news we share today is groundbreaking – the investment of Universal Music Group into Mavin Global, who recognize the immense potential and global cultural impact of Mavin Records. This partnership is set to elevate Mavin to unprecedented heights.

With the backing of UMG, we look foward to expanded avenues for our artists to reach wider international audiences, fostering cross-cultural collaborations and enriching our creative landscape. This partnership assures enhanced resources and expertise, empowering our teams to innovate, adapt, and navigate the evolving dynamics of the music industry. As we embrace this transformative journey, our stakeholders can expect a stronger foundation, an extended reach for our creative pursuits, and a shared commitment to nurturing talent and pushing the boundaries of artistic expression.

Together, we embark on a journey that pays homage to our legacy while propelling us toward new horizons, positioning Mavin Records as a dynamic force in the global music landscape. I extend my deepest gratitude to our fans, artists, producers, and dedicated team members who have been integral to our success thus far. Together, we stand at the threshold of a new chapter for Mavin Global, ready to make even greater strides in the global music industry.

I also express profound appreciation to the Kupanda and TPG team for their pivotal investment in 2019, propelling us to this remarkable point.

#MAVINACTIVATED 🌍

Credit; Music Base Africa