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.
Florence Ifeoluwa Otedola popularly known as DJ Cuppyofficially announces the name of her anticipated Debut EP, Original Copy, a project set...
Nigerian pop star, David Adeleke popularly known as Davido has announced that global streaming giant, Netflix is working on...
Big Brother Naija 2018 star, Princess has come under fire from fellow star, Dee-One over what he terms her...