Tekno’s contract with his record label is intact, and the singer is contracted until January 2019.
Tekno is not leaving MMMG.
Contrary to reports that Tekno is set to split from Made Men Music Group in 2017, new information provided to Pulse has revealed that the singer still has a longer time to spend at his current record label.
According to a top level source at MMMG who spoke to Pulse, Tekno’s contract with his record label is intact, and the singer is contracted until January 2019. That means, there’s two more years on the singer’s deal with the record label.
“All of those reports linking Tekno and an exit are false,” our source says. “Tekno is still signed to MMMG until January 2019.”
The record label underwent a major change in 2014, with Iyanya exiting to join the Mavins. His shares has since been snapped up by a new investor.
TripleMG boss Ubi Franklin has confirmed sale of the portion of shares owned by Iyanya to Paul Okoye of management consultants Upfront and Personal.
Tekno revealed this earlier but didn’t specify TripleMG as the company Paul O was buying from, leaving room for speculations that he had probably left TripleMG and started his own outfit.
Speaking to The Cable Lifestyle, Ubi confirmed he indeed sold 50% of his shares which he bought over from Iyanya after he exited the label back in August 2016, to Paul Okoye of Upfront and Personal Management Consultancy outfit.
“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.”
“Paul Okoye now owns part of MMMG,” he added.
This interest in TripleMG by the popular music promoter and events manager Paul O, comes as no surprise since his management outfit were behind the facilitation of the Sony deal Tekno got to sign late last year.
Franklin also noted that a press conference would soon hold to brief the media on recent developments in the label.