Mavin Records, home to Rema and Ayra Starr, is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group & HYBE.
The proposed deal is above $125 million and could be worth $150 million to $200 million, according to those sources.
The move is expected to raise funding 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 marketplace in recent years.
Although it’s a conversation of an outright sale, the Mavin management team, led by legendary Nigerian music business executive @DONJAZZY, is expected to remain in place and retain some form of control over its destiny.
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Source: billboard
