The rap icon, who got his start on Death Row Records, has acquired the legendary label 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 Variety reports that the acquisition of the Death Row brand is the first part of the deal, which will also see Snoop acquiring the rights to his music and unspecified other artists. The deal is expected to close in the coming weeks.
“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,” said Snoop, who released his debut album Doggystyle on Death Row in 1993.
“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.”
Death Row was founded in 1992 by Dr. Dre, Suge Knight, The D.O.C., and Dick Griffey. It went on to become one of the most influential labels of all time, with a roster including Snoop, Dre, Tupac Shakur, Nate Dogg, and Warren G.
The announcement comes days before Snoop is set to perform at the Pepsi Super Bowl LVI Halftime Show in his hometown of L.A. with Dr. Dre, Mary J. Blige, Eminem, and Kendrick Lamar.
On Friday, Snoop will release his new album B.O.D.R. (Bacc on Death Row)featuring contributions from Nas, The Game, DaBaby, Hit-Boy, and more.