Snoop Dogg Buys Death Row Records

• It’s a musical homecoming for Hip Hop legend and entrepreneur Snoop Dogg, who has acquired the brand of Death Row Records — the legendary Hip Hop label that first made him famous in the ’90s — from MNRK Music Group, which is controlled by private equity funds managed by the global investment firm Blackstone. Terms of the transaction were not disclosed.

David Kestnbaum, a Sr. Managing Director at Blackstone, said, “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.”

In a statement, Snoop said, “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. 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. 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.”

A source close to the situation told Variety that Snoop’s acquisition of the Death Row brand is the first part of a larger transaction that will also have him acquire some of the label’s lucrative music rights — his own and other unspecified artists.

• This deal is beautifully timed to break just two days before the release of Snoop’s new album, B.O.D.R. and his participation in this Sunday’s Pepsi Super Bowl Halftime Show, along with Eminem, Mary J. Blige, Dr. Dre, and Kendrick Lamar.