Music executive and CEO of Mavin Records, Michael Collins Ajereh, who is popularly known as Don Jazzy, has finally addressed the rumours about the sale of the record label.
Gatekeepers News reports that Billboard, in October 2023, said Mavin Records was seeking investment or a potential full sale, with bidding coming from the Universal Music Group, HYBE, and strong interest from music asset investors in the financial sector, according to sources.
However, Don Jazzy has now insinuated in the latest episode of the Zero Conditions podcast that the label is not seeking a sale but is being approached by investors. He explained that Mavin Records is lucrative and has a lot of potential, hence why foreign investors are interested in investing in the label.
Don Jazzy noted that Mavin has been in partnership with Kupanda Holdings for five years, and the holdings won’t continue the partnership forever.
He said, “It [the rumours about the sale of Mavin Records] is simple. We have investors, Kupanda Holdings, and they have been here for five years now, so dem go gona (they will eventually end the partnership).
“Obviously, a bunch of people are interested in investing in Mavin. If you have gold or diamonds, people will always patronise you. And Mavin Records has a lot of potential.”
