Dr. Dre Purportedly Selling Portions of Music Assets to Universal Music and Shamrock Holdings for Over $200 Million2 min read
As the hip-hop world is still waiting for the arrival of Dr. Dre’s Detox album, the music producer is primed to sell portions of his music catalog for reportedly more than $200 million.
According to Billboard, one of the iconic founding members of the legendary hip-hop group, N.W.A. will look to profit more than $200 million by selling some of his music income streams and music assets he currently owns. The assets that he will be selling purportedly make him almost $10 million in annual income. The reported deal is being spearheaded by Shamrock Holdings and Universal Music Group in two separate deals.
The assets that the two companies will be getting in the deals include passive income streams that include artist royalties from two of Dr. Dre‘s solo albums and his portion of N.W.A. artist royalties. His producer royalties will also be included along with the writer’s share of his music catalog in which he doesn’t own the publishing. That may incorporate the writer’s share of songs on his debut classic album, The Chronic, which is published by Sony Music Publishing.
Sources inform Billboard that a portion of the assets that will be acquired comprises 75% to 90% of the revenue and is most likely being bought by Shamrock. The other 10% to 25% of the remaining assets’ income included in the package is owned assets and is probably being sold to Universal Music Group.
The package being sold will not include his ownership stake in the label he co-owns with Interscope Records, Aftermath Entertainment.
Dr. Dre was recently in the news when he sent Marjorie Taylor Greene (R-GA) a cease-and-desist letter after the controversial Republican used one of his songs in a Twitter message several days ago.
Greene posted a video after the speaker of the House Kevin McCarthy finally obtained enough votes to get the gavel. The video incorporated Dre and Snoop Dogg‘s song, Still D.R.E.
TMZ reported that the producer released a statement. “I don’t license my music to politicians, especially someone as divisive and hateful as this one.”
A letter that was obtained by The L.A. Times, accused Greene of “wrongfully exploiting this work through the various social media outlets to promote [her] divisive and hateful political agenda.” His attorneys stated that “Greene’s use of “Still D.R.E.” constitutes copyright infringement and that the rapper “has not, and will never, grant [Greene] permission to broadcast or disseminate any of his music.”