Multiple award-winning Nigerian record producer Michael Collins Ajereh, also known as Don Jazzy, has addressed rumours surrounding the potential sale of Mavin Records.
In October 2023, Billboard reported that Don Jazzy is exploring a sale or investment, saying that there were bids from major players like Universal Music Group (UMG) and HYBE.
They said the deal’s valuation is estimated between $125 million and $200 million.
The report said Shot Tower Capital, an independent investment bank, facilitates the negotiation process.
In a recent chat with Zero Conditions Podcast, CEO of Mavin Records clarified that the label has had investors for five years, and they are leaving.
He jokingly likened the attraction his label gets from investors to that of a pretty lady.
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