February 2, 2023

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Dr. Dre selling catalog to Universal, Shamrock for $200 million-plus

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Dr. Dre is selling a collection of music income streams and other assets in a deal that was pitched at $250 million, sources have confirmed. diversity

The asset, which generates about $10 million annually, is being acquired by Shamrock Holdings and Universal Music Group in two separate transactions. The deal, which has been rumored for several weeks, is said to be close and Dre has been shopped by Peter Paterno of King, Holmes, Paterno & Soriano, longtime attorney. The news was first reported by Billboard.

Reps for the firm, Dre, Universal and Shamrock either declined or did not immediately respond diversityrequested for comment, but a source close to Dre confirmed the report and said the final sale price could be below the $250 million asking price, but more than $200 million.

The assets are said to include artist royalties from her two solo albums and portions of NWA artist royalties; His producer royalties; and the authored portion of his song catalog where he does not own the publication, which may include songs from his 1993 blockbuster album “The Chronic.” According to Billboard sources, this segment comprises 75% to 90% of the package’s revenue and is likely to be acquired by Shamrock (which owns some of Taylor Swift’s Master Recordings), with UMG acquiring the remaining 10% to 25%.

UMG’s acquisition will include the master recording of “The Chronic,” which is slated to return to Dre in August of this year from Death Row Entertainment (which was recently acquired by Dre protégé Snoop Dogg last year); That deal also featured his part in an Aftermath/Interscope joint venture with the Top Dog label for Kendrick Lamar; And possibly some other resources. This does not include his ownership stake in the Aftermath label, which he co-owns with his longtime label home, UMG’s Interscope Records.

diversity There will be more on this situation as it develops.

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