Dr. Dre Follows Industry Trend, Selling Music Assets For $200 Million

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Dr. Dre didn’t become a billionaire by accident. Now the hip-hop mogul is making another lucrative business move. The iconic producer and MC is reportedly closing a deal to sell some of his music assets in a deal valued at north of $200 million.First& reported& by Billboard, the sale is supposed to include two separate deals with Shamrock Holdings and Universal Music Group, which will purchase passive income streams like royalties from Dre’s solo albums and ownership of some master recordings, respectively.The assets are said to generate $10 million annually, including one of Dre’s most iconic albums, “The Chronic,” and some of his N.W.A artist royalties.Though Dre’s camp has not commented publicly on the sale of the music assets, his attorney, Peter Paterno, is said to be handling the deals. Paterno’s firm is the same one that sent controversial Georgia Congresswoman Marjorie Taylor Greene a cease-and-desist letter earlier this month for using his song, “Still D.R.E” in a promotional video without his permission.Dre allegedly asked for $250 million when he brought the deal to market. Sources say that while he didn’t get that exactly, the value is still good. The deal comes roughly seven months after Snoop Dogg acquired Dre’s...