Globally Recognised Nigerian singer David Adeleke professionally known as Davido has congratulated Don Jazzy as he sells majority stake of Mavins Records to Universal Music Group for billions of Naira which is considered an incredible feat to many and a deal of the decade.
It’s to be recalledthat Universal Music Group (UMG) has finalized the acquisition of a majority stake in the Nigerian record label, Mavin.In a statement issued on Monday February 27th 2024, UMG announced that the deal, which is subject to regulatory approval, is anticipated to conclude by the end of the third quarter of 2024.
Don Jazzy, taking to his verified Instagram page posted; “Dear Mavin Family. I’m thrilled to announce that Mavin Records has partnered with Universal Music Group, marking a new chapter in our journey. This partnership is a milestone that recognizes our collective talent and hard work, aiming to elevate African music on the global stage.
Our collaboration with UMG will bring more music, innovation, and opportunities, allowing us to showcase African talent worldwide. While we embark on this exciting new path, our core mission and values will remain intact, ensuring that the essence of Mavin and our commitment to pushing musical boundaries continue to thrive.
This step forward is a testament to the dedication of our artists, staff, and, importantly, you, our fans, whose unwavering support has been instrumental in reaching this moment. Together, we look forward to making history, breaking more records, and building a lasting legacy.Thank you for your continued belief in us. Here’s to our bright future together.
The deal has been applauded by many, calling it a landmark deal of practical and symbolic importance.