Mavin Records boss Don Jazzy has broken his silence as Universal Music Group (UMG) buys a majority stake in his record label.
UMG in a statement released on Monday February 26th 2024 said the deal remains subject to regulatory approval and is expected to close by the end of Q3 2024.
The deal will see Mavin founder and CEO Don Jazzy and COO Tega Oghenejobo continuing to run the company.
Confirming Universal Music Group as a majority shareholder in Mavin Records, Don Jazzy wrote;
“Dear Mavin Family, I’m thrilled to announce that Mavin Records has partnered with Universal Music Group, marking a new chapter in our journey. This partnership is a milestone that recognizes our collective talent and hard work, aiming to elevate African music on the global stage.
Our collaboration with UMG will bring more music, innovation, and opportunities, allowing us to showcase African talent worldwide. While we embark on this exciting new path, our core mission and values will remain intact, ensuring that the essence of Mavin and our commitment to pushing musical boundaries continue to thrive.
This step forward is a testament to the dedication of our artists, staff, and, importantly, you, our fans, whose unwavering support has been instrumental in reaching this moment. Together, we look forward to making history, breaking more records, and building a lasting legacy.
Thank you for your continued belief in us. Here’s to our bright future together. #MavinActivated.”
See Don Jazzy’s post below
View this post on Instagram
See reactions below;
sydneytalker: Biggggggg congratulations boss!!!!!
koredebello: CONGRATULATIONS DON JAYYY.
emmanyra: Congratulations on this new merger. THANKYOU for continuously paving the way and breaking down barriers for the culture ❤️ 🙌🏾.
deyemitheactor: Huge congratulations bruh!!! 🙌🏾🙌🏾🙌🏾.
isbae_u: Big congratulations DON ❤❤🙌🙌.
omonioboli: Congratulations 🎊🍾🎉🎈 Nigeria to the world!!🔥🙌🏽.
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