According to a Billboard report from October 6, 2023, Mavin Records is in the midst of obtaining outside funding to either buy a portion of the company or sell it entirely.
According to the story, several major record labels and investment firms have expressed interest, with Universal Music Group (UMG) and HYBE leading the pack.
The investment and outright sale are valued at $125 million by Billboard and may increase to $150 million or $200 million.
Mavins have already agreed to work together with numerous foreign organizations. Rema’s music is distributed in the US via Virgin Music, a subsidiary of UMG and an independent distributor.
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