Don Jazzy, however, described Mavin Records as a lucrative label with a lot of potentials
By Kehinde Okeowo
Popular music executive and CEO of Mavin Records, Michael Collins Ajereh better known as Don Jazzy, has finally reacted to innuendos that he has sold his record label.
In October 2023, Billboard reported that 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.”
After the news made the rounds online, some netizens took to various social media platforms to express disappointment, with some asking Don Jazzy to reconsider his decision.
However, speaking in the latest episode of the Zero Conditions podcast, the charismatic music executive insinuated that the label isn’t seeking a sale but being approached by investors.
ALSO READ: Popular crossdresser, James Brown explains why he dropped out of UK university
He went on to describe Mavin Records as a lucrative venture with a lot of potentials, hence, the patronage from foreign investors.
He further noted that the record label has been in business with its current partner, Kupanda Holdings for five years and the holdings won’t continue the partnership “forever.”
Speaking during the chat, Don Jazzy 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.”