It’s official. Toy company Hasbro now owns Death Row Records.
On Monday (Dec. 30), 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 made last summer, but now it's officially been closed.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” said Goldner via a press release. “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.”
With the acquisition, Hasbro now owns eOne music subsidiary Dualtone as well as the catalog of Death Row Records, which it purchased in 2013. In the 1990s, Death Row Records, founded by Suge Knight and Dr. Dre, was a powerful West Coast music imprint that helped launch the careers of rap superstars like Snoop Dogg, Nate Dogg and the Dogg Pound. For the last year of his life, Tupac Shakur was also on the label.
Back in October, Suge, who is currently serving a 28-year prison sentence for voluntary manslaughter, announced that R&B singer and entrepreneur Ray J will be handling the music side of Death Row Records.
"Ray J is not just a friend of mine, that's little brother, that's family," he said. "And I respect Ray J and his business dealings, that's why I choose him as one of the guys to deal with the music side of the future for as Death Row Records, anything to do Death Row and it's great to have him cause he will be putting out this incredible album and I heard it before."
It is unclear how Hasbro's ownership of Death Row's catalog will impact it going forward.
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