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Universal Music buys 70% stake in Kenyan label AI Records

Universal Music Group’s expansion plans are making Africa a priority, with the latest example being UMG’s acquisition of a majority stake in Kenyan label AI Records.

According to news site Business Daily, Universal has bought a 70% stake in the label, whose artists include well-known east African artists like Orchestra Super Mazembe, Afro 70, and Western Jazz. The deal appears focused on UMG giving AI Records’ catalogue better global distribution.

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