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Universal Music Group Acquires Majority Stake In Mavin Records

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Universal Music Group Acquires Majority Stake In Mavin Records....KINDLY READ THE FULL STORY HERE▶

Universal Music Group (UMG) has finalized the acquisition of a majority stake in the prominent Nigerian record label, Mavin Records, marking a significant development in the global music industry….READ ALSO

 

 

In a statement released on Monday, UMG confirmed the acquisition, highlighting that the deal is contingent upon regulatory approval and is projected to be completed by the end of the third quarter of 2024.

Under the terms of the agreement, investment firm Kupanda Capital will retain its position as a minority investor and strategic advisor within Mavin Records. However, another investor, TPG, will fully divest its stake as part of the transaction.

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Despite the change in ownership, Mavin Records’ founder and CEO, Don Jazzy, along with COO Tega Oghenejobo, will continue to lead the operations of the label.

UMG’s CEO, Sir Lucian Grainge, expressed confidence in the partnership, emphasizing the alignment of values between the two entities. Grainge stated, “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team, and their artist roster, we’ve found ideal partners with whom to grow together.”

This acquisition comes after months of speculation and negotiations, with reports surfacing as early as October 2023 indicating interest from UMG and other major players in the music industry. In a podcast interview in January 2024, Don Jazzy confirmed that Mavin Records had been approached by foreign investors, hinting at the label’s appeal on the global stage.

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The partnership between UMG and Mavin Records signifies a significant milestone for African music and highlights the increasing recognition of Nigerian talent on the international scene. As the deal progresses towards completion, industry experts anticipate further growth and success for Mavin Records under the stewardship of Universal Music Group.

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ADC: Tinubu Aide Mocks Atiku, Peter Obi, Labels Them “Renters”

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The Presidency on Friday criticised leading opposition figures, including Atiku Abubakar, Peter Obi, and Rabiu Musa Kwankwaso, claiming the African Democratic Congress (ADC) is facing a deepening internal crisis.....KINDLY READ THE FULL STORY HERE▶

reports that the Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, Bayo Onanuga, made the remarks in a post on .

He said the situation within the ADC had worsened following fresh controversy surrounding its national convention, which some factional leaders have described as illegal.

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Onanuga referenced comments by Nafiu Bala, who rejected the David Mark–led convention, insisting it lacked legitimacy.

According to him, the development further exposes divisions within the party and raises questions about its internal cohesion.

He wrote: “Nafiu Bala Gombe just further trashed the ADC illegal elective convention. The ADC quagmire worsens.”

The presidential aide also took aim at opposition figures, including Atiku Abubakar, Peter Obi, Rauf Aregbesola, David Mark, and Rabiu Kwankwaso, suggesting they have no real stake in the party’s structure.

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“No pity for the SPV renters: Atiku, Obi, Aregbesola, Mark, Alhaji Kwankwaso,” he added.

The comments come amid growing political alignments and tensions ahead of the 2027 general elections, with the ADC increasingly mentioned as a possible coalition platform.

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IDA Condemns Agatu Killings, Abduction Of JAMB Candidates On Otukpo Road.

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The Idoma Development Association (IDA) has condemned the recent violent attacks in parts of Benue State, including killings in Agatu Local Government Area and the abduction of commuters and UTME candidates along the Otukpo axis.....KINDLY READ THE FULL STORY HERE▶

reports that the association made its position known in a statement signed by Christian Ekre, describing the incidents as disturbing and a reflection of worsening insecurity in the region.

IDA expressed concern over repeated attacks in Agatu, where several residents have reportedly been killed and others displaced after being forced to flee their communities.

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The group also condemned the kidnapping of students on their way to sit for the Unified Tertiary Matriculation Examination (UTME), calling it a “cruel and senseless act” targeting the future of young Nigerians.

Speaking on the development, IDA National President, Alex Odoh, said the situation poses a serious threat to peace and the survival of the Idoma people.

He said: “We are deeply disturbed by the continued loss of lives in our communities… these repeated assaults are unacceptable and must not be allowed to continue.”

Odoh described the abduction of students as heartbreaking, stressing that insecurity in the area has reached alarming levels.

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The association urged the Benue State Government and security agencies to urgently rescue the victims, prosecute perpetrators, and strengthen security across vulnerable communities.

It also called on both federal and state authorities to move beyond condemnations and adopt lasting solutions to address the root causes of insecurity.

IDA reaffirmed its commitment to advocating for justice, safety, and protection of lives and property in Idoma land.

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Wike Urges PDP To Bring Back Defected Members Ahead Of Future Elections.

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Wike has urged the Peoples Democratic Party (PDP) National Working Committee to step up efforts to reconcile with aggrieved members and bring back those who have defected.....KINDLY READ THE FULL STORY HERE▶

reports that the Minister of the Federal Capital Territory made the call on Friday during a visit to the PDP national secretariat at Wadata Plaza in Abuja.

He stressed the need for the party to actively reach out to former members, suggesting the formation of outreach teams to encourage their return.

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According to him, many of those who left the party are still unsure of their political direction and need reassurance about their place within the PDP.

Wike expressed confidence in the party’s strength, describing the PDP as a major political platform capable of regaining widespread support ahead of future elections.

He said: “After the judgment of the Federal High Court… I can see the work that has taken place. That shows that you are ready to kick-start daily activities…”

He also pledged continued support for the party leadership, noting that post-election reconciliation requires unity, sacrifice, and hard work to move the PDP forward.

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Wike further criticised rival opposition claims, insisting that PDP remains the true leading opposition party in Nigeria based on electoral history.

In response, PDP National Chairman Abdulrahman Mohammed assured that the new leadership would work to reposition the party and deliver victory in the 2027 general elections.

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