Music producer and rapper, Dr Dre is reportedly about to complete a deal to sell the rights to some of his royalties and master recordings for over $200 Million.
Billboard reported that the music mogul is close to selling off some of his music assets in two separate deals; one with Shamrock Holdings, and another with Universal Music Group.
In the Shamrock deal, Dre might sell his artist royalties from two of his solo albums, his share of N.W.A artist royalties, plus his producer royalties and the writer’s share of the music where he doesn’t own publishing rights.
In the Universal deal, it is speculated that Dre will sell the master recording of his first solo album, “The Chronic,” plus his share of some Kendrick Lamar music.
Billboard noted that these transactions as mostly “passive income streams” that generate about $10 million annually, and he’s not selling his ownership stake in his record label, Aftermath.
Insiders also told TMZ that the actual selling price is tens of millions of dollars higher than the $200 million figure Billboard is reporting.
The all-star collaboration features Burna Boy, Kizz Daniel, Mayorkun, Small Doctor, Kaffy and Zoro in possibly the biggest collaboration...
Nigerian actress, Lola Margret- Bisola Alanu has shared her experience on being betrayed by a friend she trusted in...
Afrobeats superstar Davido has officially become a voting member of the Recording Academy, the body responsible for the GRAMMY...