Music executive and CEO of Mavin Records, Michael Collins Ajereh, popularly known as Don Jazzy, has reacted to rumours that his record label is up for sale.
In October 2023, Billboard reported that Mavin Records “is seeking investment or eyeing 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 explained that the label isn’t seeking a sale but being approached by investors.
The music producer stated this while speaking in the latest episode of the Zero Conditions podcast.
The record label boss asserted that Mavin Records is lucrative and has a lot of potential, hence the patronage from foreign investors.
He 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.”
According to him, “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.”