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Don Jazzy breaks silence as Universal Music Group acquires majority stake in Mavin Records
Mavin Records boss Don Jazzy has finally spoken out following the news of Universal Music Group’s acquisition of a majority stake in his record label.
In a statement released by UMG on Monday, February 26th, 2024, it was disclosed that the deal is pending regulatory approval and is anticipated to be finalized by the end of Q3 2024.
Under the terms of the deal, Mavin founder and CEO Don Jazzy, along with COO Tega Oghenejobo, will continue to oversee the operations of the company.
Confirming the partnership with Universal Music Group, Don Jazzy expressed his excitement. He 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.”
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