Dr. Dre is selling the master recordings of 'The Chronic' to Universal Music Group and Shamrock Capital
The deals for his music assets are reportedly worth upwards of $200 million
Dr. Dre is selling a number of his music assets and other sources of income in deals with Universal Music Group (UMG) and investment firm Shamrock Capital.
The combined sale price of all the assets, which include the master recordings for classic album 'The Chronic', is $200 million. Alongside those aforementioned master recordings, UMG has acquired Dre's share of Kendrick Lamar’s releases through Top Dawg Entertainment's deal with Interscope (A UMG subsidiary) and Dre’s Aftermath imprint. Dre will reportedly retain his stake in Aftermath, which he co-owns with Interscope.
Shamrock Capital, meanwhile, has acquired the artist royalties from two of Dre's solo albums, his share of N.W.A. artist royalties, his producer royalties, and the writer’s share of his song catalogue where he doesn’t own publishing – this potentially includes his writer's share of 'The Chronic'.
The sale of music rights and assets is an ever-popular market for major labels and investment firms to dip into. Last year, Avicii's family sold 75% of his music rights to the Stockholm-based company Pophouse Entertainment.
Last year, Dr. Dre inducted Eminem into the Rock & Roll Hall of Fame.
