The world famous toy company Hasbro is now the official owner of Death Row music label after a $3.8 billion all cash purchase deal. Chairman and CEO of the company, Brian Goldner made the announcement on December 30. Reports are that the deal was initially made this summer but was only made official this week. Goldner announced that his company had acquired Entertainment One, which is the music group that owns Death Row Records.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” Goldner said in a press release. “Our businesses are highly complementary with substantial synergies and a great cultural fit.”’
Death Row is an iconic hip-hop music label that made a name for itself back in the 90’s through the careers of artists like Dr. Dre, Tupac Shakur and Snoop Dogg. The record label, which was founded by Suge Knight, quickly became the leading label on the west coast and one of the most powerful in the music industry. Unfortunately, Tupac signed to Death Row Records in the same year he passed away but his affiliation still propelled the label to higher ranks.
Hasbro’s new acquisition means that they now own the entire Death Row Records catalog which was reportedly purchased back in 2013, as well as Entertainment One’s music subsidiary Dualtone. Death Row’s founder Suge Knight is currently incarcerated at the RJ Donovan Correctional Facility in San Diego, California. A judge sentenced Knight to 28 years in prison after he pleaded no contest to voluntary manslaughter in September 2018. In October of this year, Knight conferred his duties at the label to singer and record producer Ray J who he said would run the music side of things.
The record label was reportedly making roughly $100 million a year but that dwindled after Suge Knight’s conviction. Now that Death Row Records has a new owner, everyone is eager to see how it will affect the music business.