Dr. Dre Reportedly Offered $200M To Sell Part of Music Catalog
Dr. Dre might be getting $200 million richer. According to Billboard, the legendary producer is set to share some of his music income streams and other assets in two separate deals to Shamrock Holdings and Universal Music Group.
The deals were reportedly shopped by the producer’s longtime attorney Peter Paterno. The final sale was being pitched for about $250 million. However, if the deal were to go through, it would be less of a cash-out for Dre, but a source close to the rap mogul said the figure will still be “well above $200 million.”
The assets are reportedly worth $10 million in annual income for the producer. They include “artist royalties from two of Dr. Dre’s solo albums and his share of N.W.A. artist royalties; his producer royalties; and the songwriter’s share of his song catalog where he doesn’t own publishing. Those may include tracks from his 1992 debut LP The Chronic.”
The aforementioned assets count for about 75 to 90 percent of the package which will likely be acquired by Shamrock. UMG is said to be purchasing the remaining 10 to 25 percent generated by owned assets, including the master recording of The Chronic,” Billboard reports.
Dr. Dre has not publicly commented or confirmed talks of the deal.