Snoop Dogg is now the owner of his former label Death Row Records.
The rapper, who found fame in the '90s with the label, announced on Wednesday that he had acquired Death Row from MNRK Music Group, which is managed by the investment firm Blackstone.
"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," he said in a statement, reports Variety. "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."
The 50-year-old signed with the label in the early '90s and found success with his 1993 debut album Doggystyle. He left Death Row in 1998.
Death Row Records was founded by Dr. Dre, Suge Knight, the D.O.C., and Dick Griffey in 1992. The label declined after its star artist Tupac Shakur died in 1996 and as a result of Knight's imprisonment and the departures of Snoop and Dr. Dre. Bosses filed for bankruptcy in 2006 and the label was sold off at auction in 2009.
