MAVIN RECORDS REPORTEDLY SEEKING INVESTMENT OR OUTRIGHT SALE

Mavin Records, the Nigerian music label under the ownership Don Jazzy is reportedly considering options for a sale or investment, and significant bids have emerged from industry Giants like Universal Music Group (UMG) and HYBE. 

The deal is estimated to be valued between $125 million and $200 million, and Shot Tower Capital, and independent investment bank is actively facilitating the negotiation process. 

The strategic move by Mavin Records is aimed at raising funds to fuel it's growth, especially considering the anticipated global prominence of the African music industry in the years ahead. Sources told Billboard. 

"The move is expected to raise finding to help position the label for more growth. 

The African continent is anticipated to be the next geographical repertoire to have a commanding presence on the global stage, similar to how Latin and K-Pop have had an impact on the international market place in recent years", the report said. But even if the investment comes from a strategic investor like UMG or HYBE or another label or music company. 

The MAVIN Management team, led by Don Jazzy is expected to maintain control over the company future direction.

The media outlet stressed that the companies in the report either chose not to provide comments or do not respond to comment requests at the time of press. Don jazzy also has not issued a comment as of the time when the reports was published.

Founded in 2012, Mavin Records has become a major force in African music, representing reknown Artistes like Tiwa savage, Rema, Ayra Starr and many more on it's impressive roster. Both of Rema and Ayra Starr have raked more than 1.5 billion global on demand streams according to Luminate. Although, Rema's collaboration with Selena Gomez on "Calm down" is not counted under his artiste page; the song reached 9.07 billion global streams, with 164.5 million and 165.7 million in just the last two weeks as of Sep 28.