Dr. Dre is preparing to sell several of his music assets to Universal Music Group and Shamrock Capital for more than $200 million, Billboard reports.
It is understood the deal will see Universal Music Group (UMG) take control of the master recordings for Dre’s 1992 classic debut album, The Chronic. Masters for the album have been owned by Death Row Entertainment since its release but will revert to Dre’s ownership in August, at which time the sale to UMG will presumably be finalised.
Dre will reportedly keep his stake in the Aftermath record label he founded in 1996.
Shamrock Capital are in line to acquire the royalty fees from Dre’s first two solo albums. They will also take control of the royalties and writer’s share for Dre’s catalogue, where he doesn’t have publishing ownership, potentially including The Chronic’s royalties. Billboard understands that Shamrock will also acquire Dre’s share of the royalties from his days in N.W.A.
Dre is the latest in a rising number of artists to sell the licensing to their music catalogues.
This year, Dre has spoken about the importance of artists having control over how their music is used, most notably sending a cease and desist order to Republican congresswoman Marjorie Taylor Greene. Taylor Greene, who resides comfortably on the far-right of the Republic party, used ‘Still D.R.E.’ in a promotional video.
Speaking to TMZ earlier this month, Dre made it clear: “I don’t licence my music to politicians.”
It’s not clear how much control Dre will maintain over the licensing of his music once UMG and Shamrock take control.