The largest music firm in the world has finally purchased a controlling stake in Mavin Music, following rumors that the record label might be sold.
Universal Music Group stated on February 26, 2024, that it would be purchasing the majority of Mavin; the transaction is reportedly pending regulatory approval.
The acquisition’s value was not disclosed in the press announcement. It did, however, reveal that Kupanda Capital will continue to serve as a strategic advisor and minority investor, with TPG having completely left the company.
Following the news of a partnership with UMG, Mavin Records is now a division of the largest record label in the world, which also owns labels including Virgin Music, Defjam, Motown, Interscope, Polydor, and Republic Records.
