Snoop Dogg rose to fame during the 1990s on Death Row Records, has acquired the label’s brand from MNRK Music Group, which is controlled by private equity funds managed by the investment firm Blackstone, the firm announced on Wednesday.
Terms of the transaction were not disclosed, however, a source close to the situation tells Variety that Snoop’s acquisition of the Death Row brand is the first part of a transaction that is expected to see him also acquiring some of the label’s music rights — his own and unspecified other artists. The source says the deal is expected to conclude in the coming weeks.
The news comes just days before Snoop appears with Dr. Dre, Eminem, Mary J. Blige, and Kendrick Lamar during the Super Bowl Halftime show on Sunday, and was foreshadowed earlier this week by the announcement that he and Nas are teaming up for a new song called “Bacc on Death Row”; Snoop is releasing a new album with a related title, “B.O.D.R.,” on Friday.
In a statement, Snoop Dogg, now the owner of Death Row Records, said: “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. 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.”
David Kestnbaum, a Senior Managing Director at Blackstone, said: “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.”
