The world’s leading music company, Universal Music Group (UMG), has announced its acquisition of a majority stake of Mavin Global.
UMG made the announcement in a statement on Monday, noting that the deal is, however, awaiting regulatory approval.
“Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin). The deal remains subject to regulatory approval and is expected to close by the end of Q3 2024,” the statement reads.
