January 12, 2023
Dr. Dre Reportedly Selling Assets to Universal Music and Shamrock Holdings for Over $200M
As the hip-hop world waits 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 N.W.A. will look to profit more than $200 million by selling some of his music income streams and music assets, which bring in almost $10 million in annual income.
Two reported deals are being spearheaded by Shamrock Holdings and Universal Music Group.
The two companies will get 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 comprises 75% to 90% of the revenue and is most likely being bought by Shamrock. The other 10% to 25% of the remaining income included in the package are owned assets and is probably being sold to Universal Music Group.
The package 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 Rep. 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 eventual 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, obtained by The Los Angeles Times, accused Greene of “wrongfully exploiting this work through the various social media outlets to promote [her] divisive and hateful political agenda.” The hip-hop legend’s 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.”