It is reported that Dr. Dre is preparing to sell several of its music assets to Universal Music Group and Shamrock Capital.
According to Billboard, the music assets will be sold for more than $200 million (164 million pounds). As part of the deal, Universal Music Group (UMG) will acquire master recordings for Dre’s 1992 debut album “The Chronic”, which will return to Dre’s ownership from Death Row Entertainment in August.
It is also reported that the UMG deal includes Dre’s stake in Kendrick Lamar releases through Top Dawg Entertainment’s deal with UMG subsidiary Interscope. Dre will retain his stake in the Aftermath label, which he founded in 1996.
Meanwhile, Shamrock Capital will reportedly acquire Dre’s royalties for his first two solo albums, as well as producer fees and an author’s share in the catalog of songs that he does not own. This may also include writer Dre’s share of “The Chronic”. Billboard reports that Shamrock will also receive Dre’s share of his N.W.A. royalties.
The reports came after Dre recently spoke out against using his music without his express permission. The rapper sent a cease-and-desist letter to Republican Congresswoman Marjorie Taylor Green after a far-right politician used his song “Still D.R.E.” in a commercial.
“I don’t license my music to politicians,” Dre told TMZ earlier this month. It is unclear to what extent the rapper will be able to restrict the licensing of his music after the UGM and Shamrock Capital deal.
The deal with Dre’s music assets followed a deal by Phil Collins and his Genesis bandmates, who sold some of their song assets to Concord Music Group last September. Prior to that, Bruce Springsteen sold his master recordings and publishing rights to Sony Music in a deal worth about $500 million in 2021, and Bob Dylan sold his entire catalog of songs to UMG in 2020.
At the end of last year, both Keith Urban and Iggy Azalea sold their master recordings, while Azalea received an eight-figure sum for the deal.
