The world's largest music company announced the deal on Wednesday, though it didn't disclose financial details. Chabaka provides digital distribution, marketing, publishing, and label and artist services in the Middle East and North Africa region,...Universal Music Group--the record label behind the Weeknd, Billie Eilish and Taylor Swift--entered into an agreement to acquire United Arab Emirates-based music company Chabaka from CHBK Group, in a deal that bolsters its presence in one of the fastest growing music regions globally. By Mauro OrruUniversal Music Group--the record label behind the Weeknd, Billie Eilish and Taylor Swift--entered into an agreement to acquire United Arab Emirates-based music company Chabaka from CHBK Group, in a deal that bolsters its presence in one of the fastest growing music regions globally. The world's largest music company announced the deal on Wednesday, though it didn't disclose financial details. Chabaka provides digital distribution, marketing, publishing, and label and artist services in the Middle East and North Africa region, a market that saw growth of around 24% in recorded music revenue last year.

Source: The North Africa Journal August 30, 2023 10:29 UTC