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| Version 94 | Version 95 |
|---|---|
| Africa Live this week: 19-25 February 2024 - BBC News | Africa Live this week: 19-25 February 2024 - BBC News |
| (about 1 hour later) | |
| Nkechi Ogbonna | |
| West Africa business journalist, BBC News | |
| Universal Music Group (UMG), one of the world's biggest music corporations, is set to aquire a majority | |
| stake in a leading African label. | |
| UMG said on Monday that its partnership with Nigeria's Mavin Global will "accelerate Mavin’s strategic advancement and create more opportunities to break more talent globally". | |
| Mavin is credited with launching popular Afrobeats artists, like Ayra Starr and Rema, to global success. | |
| Label owner DonJazzy, real name Michael Collins Ajereh, was quoted in a UMG statement as saying: “I’m proud of the artists, careers and brand we’ve built that have made | |
| Mavin the force it is today. In this historic partnership with UMG, we will | |
| continue that mission in Africa and across the globe.” | |
| A completed deal would see UMG owning more than 50% of Mavin's shares and having a final say on company policy. | |
| However, UMG insisted in its statement that Mavin will "maintain autonomy over its strategy and future talent development". | |
| Sir Lucian Grainge, head of UMG said: "Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.” | |
| The deal, which is subject to the regulatory authority’s approval, is | |
| expected to be completed later in the year. | |
| Read more: | |
| Rema, the Afrobeats star who does not intend to calm down | |
| Burna Boy is 'a work in progress', his mother says | |
| Angélique Kidjo says the Grammys 'need diversity' | |
| The true story behind Libianca's 'more alcohol' song | |
| ShareView more share optionsShare this postCopy this linkRead more about these links. | ShareView more share optionsShare this postCopy this linkRead more about these links. |
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