Dr. Dre Is Selling His Music Catalog for Over $200 Million
Dr. Dre is reportedly selling a collection of music income streams and other assets in a deal that was pitched for $250 million.
According to Variety, the assets, which generate around $10 million annually, are being acquired by Shamrock Holdings and Universal Music Group in two separate transactions.
Billboard reports that the deals are said to be nearly closed and were shopped by the legendary producer’s longtime attorney Peter Paterno of King, Holmes, Paterno & Soriano. According to a source close to Dre, the deal is confirmed, and the final sale price is likely to be between $200 million and $250 million.
The deal includes Dre’s royalties from two of his solo albums, his share of N.W.A. artist royalties, his producer royalties and the writer’s share of his song catalog where he doesn’t own publishing, including songs from his debut album The Chronic.
The bundle of offered assets doesn’t include his ownership stake in Aftermath, a label he co-owns with UMG’s Interscope.
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