DR. DRE is selling a variety of music income streams and other assets to UNIVERSAL MUSIC GROUP and SHAMROCK HOLDINGS in two separate deals said to be in excess of $200 million.
The assets, which generate nearly $10 million annually, were shopped by DRE’s longtime attorney PETER PATERNO for a reported price tag of $250 million.
The assets are said to include artist royalties from two of his solo albums and 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 1993 blockbuster album “The Chronic, which may provide close to 75-90% of the package's revenue, which is being acquired by SHAMROCK with UMG picking up the remaining 10-25%.
Included in UMG’s part of the acquisition would be the master recording of “The Chronic,” which will revert to DRE from DEATH ROW ENTERTAINMENT -- acquired by one-time colleague SNOOP DOGG last year -- in AUGUST as well as his part of an AFTERMATH/INTERSCOPE joint venture with TOP DAWG for KENDRICK LAMAR. The deal does not include his ownership stake in the AFTERMATH label, which he co-owns with his longtime label home, UMG’s INTERSCOPE RECORDS.
The news was first reported in BILLBOARD.
