The Tripple MG boss disclosed that the 50% shares was owned by former co-owner and label act, Iyanya, before he joined Don Jazzy’s Mavin Records last month.
According to Franklin, he bought Iyanya’s shares when the singer left the record label in August 2016, before later selling it to Paul O.
“When Iyanya was leaving, I bought over his shares so I owned 100% of the company so I sold those shares to Paul Okoye of Upfront and Personal.”
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“Paul Okoye now owns part of MMMG,” Franklin said.
The news first broke out on Tuesday after one of MMMG’s artiste, Tekno Miles revealed on Instagram that Paul Okoye owns 50% of MMMG”.
He said: “Thank you Upfront & Personal, thank you Paulo for becoming a part of my label, you know, buying into the company and owning 50% of shares in the company is really good. I’m really excited because it will facilitate a lot of things.”