UMG and Shamrock finalize the deal
Rap mogul Dr. Dre sold his catalog fortune to Universal Music and Shamrock Holdings for more than $200 million. Billboard reports that both companies are in the final stages of acquiring Dre’s artist royalties from two of his solo albums and NWA, along with his producer royalties and the author’s portion of his catalog that he does not own.
The deal will likely result in Shamrock acquiring 75-90% of the catalog and UMG acquiring the remaining 10-25%. UMG would acquire the masters for The Chronic, which Dre will return from Death Row Entertainment, its share of an Aftermath/Interscope joint venture with the Top Dawg label for Kendrick Lamar releases, and possibly other assets.
The deal does not include his stake in Aftermath, which co-owns UMG’s Interscope Records.
His fortune is said to generate $10 million annually, with Dre asking for $250 million. Sources tell Billboard the asking price is unlikely to be reached, but Dre will be paid well over $200 million when the deal closes.
Dre, UMG and Shamrock have all declined to comment on the matter.
buddy Iahn
Buddy Iahn founded The Music Universe when he decided to combine his love of web design and music. A lifelong drummer, he decided to take a break from making music to report on it. The site started as a fun project in 2013 and has grown into one of the top independent news sites. Email: [email protected]
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