Don Jazzy, the music producer, has responded to rumours surrounding the potential sale of Mavin Records.
In October 2023, Billboard reported that Don Jazzy is exploring a sale or investment.
It was said 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, is facilitating the negotiation process.
In a recent chat with Zero Conditions Podcast, Don Jazzy 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.
Don Jazzy addresses rumours about the sale of Mavin Records. pic.twitter.com/KGv9X8mdb0
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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.
The label has received numerous accolades, including the MTV Africa Music Award for Best Record Label in 2013 and 2014.