AceShowbiz - Snoop Dogg has just fulfilled one of his dreams by becoming the new owner of Death Row Records. The hip-hop star has acquired the label, which launched his career nearly 30 years ago, from MNRK Music Group, which is controlled by private equity funds managed by leading global investment firm Blackstone.
Terms of the transaction were not disclosed, but the homecoming purchase comes on the heels of the release of his new album "B.O.D.R", which is set to arrive on February 11. In a statement released on Wednesday, February 9, the rapper said he's "thrilled" over the deal.
"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," he said. "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."
He continued, "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, also commented on the purchase, "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."
Chris Taylor, MNRK Music Group's President & CEO, added, "Snoop is clearly the executive to take Death Row into its next 30 years. MNRK has been honored to oversee this legendary brand over the last decade and enjoyed introducing it to millions of new fans in 2021 through our award-winning 30th anniversary marketing campaign."
Death Row Records, which was co-founded by the currently incarcerated Suge Knight, is Snoop's debut label and has become home of such artists as Dr. Dre, Tupac Shakur, the D.O.C., Nate Dogg, Warren G and Michel'le among others. The label was passed around since going into bankruptcy in 2006.
Snoop previously has expressed his desire to own the label. "I wanted to be the CEO of Death Row Records and basically take over the merchandise and rerelease their music, do documentaries, and possibly do my life story," he told GQ in an interview last December. He revealed that he approached then-owner eOne Music to buy the label, but was rebuffed.
The acquisition aside, Snoop is also close to making his dream to perform at Super Bowl halftime show come true. The "Gin & Juice" emcee is set to headline the Sunday, February 13 gig with Dr. Dre, Eminem, Kendrick Lamar and Mary J. Blige at SoFi Stadium, in Inglewood, California.
Calling performing at the Super Bowl in his home state a "dream come true," he said he would not let the big stage rattle his nerves. "For me, when performing, I never let the moment get bigger than me. I'm not going to understand it until it happens," he shared.
He continued explaining, "While it's happening, I'm in the zone. I'm stuck to the script, laser focused, being on point, sounding good, looking good and feeling good. I want to give off a great presentation. After the fact, it's when I'll be nervous about watching it to see what the reaction is. But while I'm going through it, it's nothing."