In the latest round of things we never thought would happen, apparently infamous hip hop record label Death Row has a new owner…and it’s one of the most unlikely business moves ever. The hugely popular Hasbro toy company is now the official owner of the record label founded by the currently incarcerated Suge Knight.
@XXL reports that earlier this week (and to close out 2019 with a bang) Brian Goldner, Hasbro chairman and chief executive officer, announced the acquisition of Entertainment One, which owns Death Row Records, in an all-cash transaction valued at approximately $3.8 billion. The deal was initially made back in the summer, but now it’s finally closed and official.
With the new acquisition, Hasbro now fully owns eOne’s music subsidiary Dualtone, as well as the entire catalog of Death Row Records, which it purchased back in 2013. In the 1990s, Death Row Records, founded by Suge Knight, was one of the most popular and powerful labels in the music industry that helped launch the careers of some of the most legendary artists in hip hop, including Snoop Dogg, Nate Dogg, Tha Dogg Pound and also Tupac Shakur, who signed to the label during the last year of his life.
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Goldner had this to say regarding the new business move:
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition. Our businesses are highly complementary with substantial synergies and a great cultural fit. The addition of eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global preschool brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth. We are pleased to welcome the incredibly talented eOne team to our Company.”
You remember that the last update on Death Row was that, per Suge’s request, Ray J would be handling the music side of the company going forward, however with new owners it’s unclear what will happen with that.
Roommates, what are your thoughts on this?
