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Scooter Braun has reportedly sold Taylor Swift’s Big Machine masters in a deal believed to be worth more than $300 million.
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According to Variety, the music manager and entrepreneur has sold the master rights to Swift’s first six albums. The buyer is said to be an as yet unknown investment fund who closed the deal sometime in the last two weeks.
Braun’s Ithaca Holdings LLC acquired Big Machine Label Group and all of its recorded music assets last year. Swift signed with the label at the beginning of her career. Her contract expired at the end of 2018, after which she signed a deal for future recordings with Universal Music Group.
Speaking at the time her masters were sold, Swift said: “This just happened to me without my approval, consultation or consent. After I was denied the chance to purchase my music outright, my entire catalog was sold to Scooter Braun’s Ithaca Holdings in a deal that I’m told was funded by the Soros family, 23 Capital and that Carlyle Group.
“Yet, to this day, none of these investors have bothered to contact me or my team directly — to perform their due diligence on their investment. On their investment in me. To ask how I might feel about the new owner of my art, the music I wrote, the videos I created, photos of me, my handwriting, my album designs.”
She added: “The fact is that private equity enabled this man to think, according to his own social media post, that he could ‘buy me.’ But I’m obviously not going willingly.”
Swift accused Braun of “incessant manipulative bullying” and claimed she was “sad and grossed out” when it emerged that Braun controlled her master records, before he claimed that he had “no malicious intent” and “did everything aboard”.
In a bid to reclaim control of her music, Swift stated that she planned to re-record her songs from the first six records.
Big Machine Records then hit back at the Swift, saying that they “do not have the right to keep her from performing live anywhere,” and instead claim their dispute was down to an unresolved payment issue.
Earlier this month, Taylor Swift fans took to social media in celebration to mark the fact Swift is now free to re-record her original music once more.
According to Variety, Big Machine remains in the hands of Braun and Borchetta with a current roster that includes Sheryl Crow, Florida Georgia Line, Thomas Rhett, Rascal Flatts and Lady A, the trio formerly known as Lady Antebellum.
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