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DR. DRE SELLS BACK CATALOG TO UNIVERSAL MUSIC IN $200 MILLION-PLUS DEAL
The rapper, music producer and cofounder of Beats By Dre–which Apple bought in 2014 for $3 billion–is selling a lucrative collection of music income streams and other assets in a $200 million-plus deal, according to multiple reports.
The assets, which generate nearly $10 million annually, are being acquired by Shamrock Holdings and Universal Music Group in two separate transactions. The deals were shopped by Dre’s longtime attorney Peter Paterno. The news was first reported by Billboard and confirmed by Variety.
A source close to Dre told Variety that the final sale price is likely to be below the $250 million asking price, but well above $200 million.
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J Boog
Tuesday, June 16 @ UC Theater, Berkeley
DaBoyDame w/ Keyshia Cole, Plies +more
Friday, June 19 @ Fox Theater, Oakland
Buju Banton & Stephen Marley
Saturday, June 20 @ Fox Theater, Oakland
Kev Choice Ensemble
Friday, June 26 @ Yoshi's, Oakland
Khalid
Friday, June 26 @ Greek Theatre, Berkeley
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Saturday, Aug 15 @ Greek Theatre, Berkeley
Jungle
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