The music producer Don Jazzy has addressed speculations that Mavin Records would be sold.
Billboard revealed in October 2023 that Don Jazzy is considering a sale or investment.
Major parties such as HYBE and Universal Music Group (UMG) were rumored to have made bids.
They stated that the projected valuation of the agreement is in the range of $125 million to $200 million.
According to the article, the negotiation process is being facilitated by independent investment bank Shot Tower Capital.
Don Jazzy made it clear that the label has had investors for the last five years, and they are leaving in a recent interview with Zero Conditions Podcast.
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 established Mavin Records in 2012.
Artistes under the label include Ayra Starr, Johnny Drille, Crayon, Rema, and Ladipoe.
Among the many honors bestowed upon the label are the MTV Africa Music Awards for Best Record Label in 2013 and 2014.
The artists of Mavin Records have also worked with internationally recognized vocalists including Chris Brown, Selena Gomez, Kelly Rowland, and Beyoncé.
