Dr. Dre Selling Music Assets For Over $200 Million
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Dr. Dre has another multi-million dollar deal to add to his music mogul resume. According to reports from Billboard, the producer has sold his assets to Universal Music Group and Shamrock Holdings. While he sought over $250 million, it was reportedly being inked for a little over the $200 million mark in two separate deals.
The musical assets sold generate an estimated $10 million in yearly income. According to the report, Dr. Dre’s attorney Peter Paterno of King, Holmes, Paterno & Soriano shopped the deals.
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Assets in the deal include mainly passive income streams. This counts artist royalties from two of the Hip-Hop veteran‘s solo albums, his share of N.W.A. artist royalties, his producer royalties, and the writer’s share of his song catalog, of which he does not own the publishing. That potentially includes the writer’s share of songs on his The Chronic album, which Sony Music Publishing owns.
According to Billboard sources, that portion of the bundle comprises 75% to 90% of the package’s revenue and is most likely being acquired by Shamrock while the remaining 10% to 25% of income in the package is generated by owned assets and is probably being acquired by Universal Music Group.
The UMG portion includes The Chronic, his share of an Aftermath/Interscope joint venture with the Top Dawg label for Kendrick Lamar releases through that deal, and potentially additional unnamed assets. It does not include his ownership stake in Aftermath, the label he co-owns with UMG’s Interscope Records.
