Don Jazzy, the music producer, has responded to speculation about the sale of Mavin Records.
Billboard reported in October 2023 that Don Jazzy is considering a sale or investment.
There were reportedly bids from major players such as Universal Music Group (UMG) and HYBE.
They estimated the deal’s value to be between $125 million and $200 million.
According to the report, Shot Tower Capital, an independent investment bank, is facilitating the negotiations.
Don Jazzy clarified in a recent interview with Zero Conditions Podcast that the label has had investors for five years and that they are leaving.
He jokingly likened the attraction his label gets from investors to that of a pretty lady.
He attested that investors are bidding because they possess valuable assets.
“We have investors, and they have been here for five years, so they have to go,” he said.
“If you get gold or you get diamonds, people go dey, people wey wan.
“Or if you be fine girl, people go dey approach you nau.
“Dem wan toast and as we dey like this, if you get breast, you get yansh.”
Don Jazzy founded Mavin Records in 2012.
Ayra Starr, Johnny Drille, Crayon, Rema, and Ladipoe are among the label’s artists.
Numerous awards have been bestowed upon the label, including the MTV Africa Music Award for Best Record Label in 2013 and 2014.
Mavin Records artists have also worked with international artists such as Beyoncé, Selena Gomez, Kelly Rowland, and Chris Brown.
