TRIPLE MG Record label CEO, Ubi Franklin, who is suspected to be having marital issues, has confirmed that he sold the 50% shares owned by former co-owner and label act, Iyanya, to Upfront and Personal CEO, Paul Okoye.

The 50% shares which he said formerly belonged to Iyanya when he was still signed to the label, was sold to Paul Okoye when he left the label for Don Jazzy’s Mavin Records.

According to Ubi in a recent interview, when Iyanya was quitting Triple MG, he (Ubi) bought over Iyanya’s 50% shares which he subsequently sold to Paul Okoye, making him a part owner of the label. “When Iyanya was leaving, I bought over his shares, so I owned 100% of the company. I sold those shares to Paul Okoye of Upfront and Personal. Paul Okoye now owns part of MMMG” Ubi confirmed.

He went further to reveal that the management of Triple MG is working out the modalities to organize a press conference to address the recent developments in the company.

Source: Vanguard