Universal Music Group (UMG) has acquired a majority stake in music company Mavin Global.
UMG in a statement Today, described Mavin as “the driving force behind many of the continent’s Afrobeats artists”.
It also said, Mavin will “maintain autonomy” over its strategy and future talent development. As part of the agreement, founder and CEO Don Jazzy and COO Tega Oghenejobo will continue leading the company.
The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024.
Mavin was founded in 2012 by artist, producer, music executive and entrepreneur, Michael Collins Ajereh (aka Don Jazzy).
