The CEO of Mavin Records, Michael Collins Ajereh, popularly known as Don Jazzy, has addressed the circulating rumors regarding the possible sale of the record label.
Recalling a report from October 2023 where Billboard indicated that Mavin Records was exploring investment opportunities or considering a complete sale, with interest from notable entities like Universal Music Group, HYBE, and various financial sector music asset investors.
However, in the latest episode of the Zero Conditions podcast, Don Jazzy suggested that the label is not actively seeking a sale but rather being approached by interested investors.
He elaborated on the profitability and potential of Mavin Records, attracting patronage from foreign 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 gona [laughs].
“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.”