Universal Music Group, an American record firm, has officially acquired Mavin Records, a Nigerian label!
UMG has teamed with and is working to purchase a majority share in the Nigerian music company Mavin Global, as disclosed on Instagram by Don Jazzy, the boss of Mavin.
UMG plans to purchase about 80% of the record label’s shares in a deal that is expecting regulatory approval. After this contract closes in the third quarter of this year, Mavin Records—an American record label—will formally operate in Nigeria with the intention of expanding to other African nations.
We’re not sure what this means for the Nigerian music scene, but we would like to congratulate Don Jazzy on his recent acquisition of a fortune that has the potential to change his life.
