Dr. Dre is set to get a big payday for his iconic collection of music income streams and assets.
The Compton native has reportedly struck a deal with Shamrock Holdings and Universal Music Group in two separate transactions.
The assets garner about $10 million annually and the deals have been rumored to be in the works for several weeks, according to Variety. The final sale price is likely to be $250 million the source confirmed to the site.
The news was first reported by Billboard.
The assets are said to include artist royalties from Dre’s two solo albums and his share of N.W.A. artist royalties, producer royalties, and the writer’s share of his song catalog which he doesn’t own the publishing to.
Sources tell Billboard that the portion includes 75% to 90% of the package’s revenue and is likely being acquired by Shamrock, which owns some Taylor Swift master recordings.
UMG is set to acquire the remaining 10% to 25%.
UMG’s cut will reportedly include the master recordings for the West Coast icon’s debut album “The Chronic” and his share of Kendrick Lamar’s releases through the Top Dawg Entertainment deal with Interscope, which is a UMG subsidiary.
Sources said the deal does not include his ownership in his label, Aftermath, which is co-owns with UMG’s Interscope Records.