Snoop Dogg has acquired Death Row Records, the same label that helped the rapper in his rise to fame during the early ’90s.
The artist and entrepreneur purchased the label’s brand from MNRK Music Group, which is controlled by private equity funds managed by the Blackstone investment firm, according to Variety.
“I am thrilled and appreciative of the opportunity to acquire the iconic and culturally significant Death Row Records brand, which has immense untapped future value,” Snoop said in a statement. “It feels good to have ownership of the label I was part of at the beginning of my career and as one of the founding members. This is an extremely meaningful moment for me. I would like to personally thank the teams at Blackstone, MNRK and especially David Kestnbaum, who worked collaboratively with me over several months to make this exciting homecoming a reality. I’m looking forward to building the next chapter of Death Row Records.”
Kestnbaum, a Senior Managing Director at Blackstone, added, “We at Blackstone are strong supporters of the artist and creator community in our entertainment investments. We are excited to put the Death Row Records brand back in the hands of a legend like Snoop Dogg. We wish him success in the years ahead as the brand moves forward under his leadership and vision.”
While terms of the sale have not been disclosed, a source close to the deal told the outlet that Snoop’s acquisition of Death Row is just the first part of a transaction that is also expected to include the acquisition of some of the label’s music rights. The source added that these rights are expected to be associated with both Snoop’s music and music released by other Death Row artists.
Death Row Records was originally founded in 1992 by Suge Knight and Dick Griffey, along with rappers Dr. Dre and D.O.C. At launch, the label’s roster included former N.W.A. member Dre, D.O.C., Snoop, Tupac Shakur, Nate Dogg, Warren G, and Michel’le.
Snoop’s debut studio album Doggystyle was released by Death Row and Interscope on Nov. 23, 1993, and featured the hit song “Gin and Juice.” Doggystyle went on to become the fastest-selling hip-hop album ever at the time by selling 806,858 copies in its first week alone in the United States.
News of the acquisition comes just days ahead of Snoop’s planned performance during the Super Bowl halftime show, which will also feature the likes of Dr. Dre, Eminem, Mary J. Blige, and Kendrick Lamar. Snoop also recently announced a new collaborative track with Nas called “Back on Death Row” and is scheduled to release a new album titled B.O.D.R. on Feb. 11. Super Bowl LVI airs on NBC on Sunday, Feb. 13.
Source: Variety
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