Posted by Samuel on Sat 13th Jan, 2024 - tori.ng
However, speaking in the latest episode of the Zero Conditions podcast, Don Jazzy insinuated that the label isn’t seeking a sale but being approached by investors.
Michael Collins Ajereh, the Nigerian music executive and CEO of Mavin Records, who is popularly known as Don Jazzy, has finally addressed the rumours about the sale of the record label.
Recall that in October 2023, Billboard reported that Mavin Records “is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group, HYBE and strong interest from music asset investors in the financial sector, according to sources.”
However, speaking in the latest episode of the Zero Conditions podcast, Don Jazzy insinuated that the label isn’t seeking a sale but being approached by investors.
He explained that Mavin Records is lucrative and has a lot of potential, hence, the patronage from foreign investors.
Don Jazzy noted that Mavin has been in business with its current partner, Kupanda Holdings for five years and the holdings won’t continue the partnership “forever.”
He said, “It [the rumours about the sale of Mavin Records] is simple. We have investors, Kupanda Holdings, and they have been here for five years now, so dem go gona [laughs].
“Obviously, a bunch of people are interested in investing in Mavin. If you have gold or diamonds, people will always patronise you. And Mavin Records has a lot of potential.”