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Michael Collins Ajereh, widely known as Don Jazzy, the music executive and CEO of Mavin Records, has officially addressed rumors concerning the record label's sale.
According to Billboard, Mavin Records "is seeking investment or eying 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, on the most recent episode of the Zero Conditions podcast, Don Jazzy implied that the label is not looking to sell but is being approached by investors.
He explained that Mavin Records is profitable and has a lot of potential, which is why it has received support from overseas investors.
Don Jazzy noted that Mavin has been in business with its current partner, 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 going.
“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.”
