Nigeria: Don Jazzy wants to sell his label Mavin Records
Renowned Nigerian musician and producer Don Jazzy recently called for investors as he considers selling his label, Mavin Records. The news has sparked much public reaction and speculation.
Mavin Records, also known as Supreme Mavin Dynasty, is a Nigerian music label founded by Don Jazzy on 8 May 2012. The label has seen many talented Nigerian artists such as Tiwa Savage, Korede Bello, Iyanya, Wande Coal and Reekado Banks, all of whom have left the label for various reasons.
Despite speculation as to why Don Jazzy is considering selling the label, it has been revealed that he still intends to be the key person in charge of the label. This suggests that although the label may be sold, Don Jazzy will continue to play a crucial role in music production.
According to information reported by Billboard, the current deal is valued at between $125 million and $200 million. The negotiation process is being overseen by independent investment bank Shot Tower Capital. The label’s strategic decision is motivated by the quest for funds to support its expansion, anticipating the imminent growth of the African music industry on a global scale in the coming years.
It remains to be seen how this decision will affect the future of Mavin Records and its current artists. In any case, fans around the world are eagerly awaiting to see what the future holds for Don Jazzy and Mavin Records.
