One of Nigeria and Africa’s leading record labels, Mavin Records, is reportedly exploring investment or an outright sale.
According to a report on Billboard, Mavin is in talks with various investment firms and major record labels, including Universal Music Group (UMG) and HYBE.
The deal is reportedly valued at $125 million, with the potential to rise to $150 million or $200 million.
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Beyond Boders learned that Mavin’s potential sale comes as no surprise to many, as Don Jazzy, the record label boss, has previously stated that he would be open to selling the label if the right offer came along.
Jazzy also said that he intends remaining a primary figure in the company’s affairs in the event of a sale.
Beyond Boders recalls that Mavin Records which has a large catalog of music, including the works of Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di’ja, Rema, Ayra Starr, Johnny Drille, Ladipoe, Boy Spyce, Bayanni, and the recently signed Lifesize Teddy, was founded by Don Jazzy in 2012 after the disbandment of his previous label, Mohit Records.
