Dr. Dre’s catalog assets will be acquired by Universal Music and Shamrock Holdings in a deal that initially sought $250 million for the collection of music income streams, TheWrap has confirmed.
The hip-hop mogul’s assets, which generate nearly $10 million annually, will be sold to Universal Music and Shamrock Holdings — which owns some Taylor Swift master recordings — in two separate deals that have been rumored to be close to completion after being shopped by Dre’s attorney Peter Paterno of King, Holmes, Paterno & Soriano.
The assets are said to include two of the artist’s solo albums, his share of N.W.A. artist royalties, his producer royalties; and the writer’s share of his song catalog in which he doesn’t own publishing. This portion of the catalog might include songs from his 1993 solo debut album “The Chronic,” which is published by Sony Music Publishing.
According to Billboard, which first reported the news, the assets will likely be acquired by Shamrock as it acquires 75% to 90% of the catalog’s revenue while UMG will acquire the remaining 10% to 25%.
UMG is also set to acquire the master recording of “The Chronic” — though it is scheduled to transfer ownership from Dre to Snoop Dogg’s recently acquired Death Row Entertainment — along with the hip hop artist’s share of an Aftermath/Interscope joint venture with the Top Dawg label for Kendrick Lamar releases, as well as other unknown assets.
Though the final amount of the acquisition is unknown, sources told Billboard that it is below the originally sought $250, while exceeding $200 million.
Universal Music Group declined to comment on the reports.