Scooter Braun Sells Taylor Swift's Masters for Over $300 Million
Scooter Braun recently had a big pay day after selling Taylor Swift’s masters, reportedly selling the rights to the singer’s first six albums to an investment fund for over $300 million.
According to a Variety report on Monday, Braun’s Ithaca Holdings LLC closed the deal in the last two weeks and is receiving over $300 million for Swift’s first six albums, spanning from 2006’s Taylor Swift through 2016’s Reputation. The investment fund which now owns Swift’s maters is currently unknown.
According to Variety, Braun still owns Big Machine, which currently reps such artists as Sheryl Crow, Florida Georgia Line and Rascal Flatts.
Reps for Braun and Swift have not replied to ET’s request for comment.
Swift made headlines when she called out Braun in June 2019 when his company bought the Big Machine record label and all of its recorded music assets for a reported $300 million. Doing so gave Braun the rights to Swift’s master recordings that were made prior to her exit from the label in 2018. After news broke, Swift publicly slammed the deal on Tumblr, claiming that she wasn’t told about Braun’s purchase before it became public and was never given a chance to buy her music.
“For years I asked, pleaded for a chance to own my work. Instead I was given an opportunity to sign back up to Big Machine Records and ‘earn’ one album back at a time, one for every new one I turned in,” she wrote in part, before referencing Scott Borchetta, who founded Big Machine.
“I walked away because I knew once I signed that contract, Scott Borchetta would sell the label, thereby selling me and my future,” she wrote.
Swift went on to claim that she received “incessant, manipulative bullying” from Braun over the years — which she alleged Borchetta knew about — and criticized Borchetta’s decision to work with Braun in order to control “a woman who didn’t want to be associated with them.”
Borchetta fired back shortly after, claiming that Swift was given the opportunity to buy her music and alleging that he personally texted her about the deal before it was made public. He also noted that Swift’s father, Scott Swift, is a shareholder at the record label and alleged that he was thus made aware of the sale five days before it was announced, but Swift stood by her statement.
“Scott Swift is not on the board of directors and has never been,” a rep for Swift told ET at the time. “On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty. Her dad did not join that call because he did not want to be required to withhold any information from his own daughter.”
“Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta and he did not call her in advance,” the statement continued.
The “Betty” singer later sat down for an interview with CBS Sunday Morning and revealed that she “absolutely” plans to rerecord her early music, and then elaborated on those plans in an interview with Good Morning America.
“It’s something that I’m very excited about doing because my contract says that starting November 2020, so next year, I can record albums one through five all over again,” she said. “I’m very excited about it. I just think that artists deserve to own their own work. I just feel very passionately about that.”
But the drama didn’t end there. Last November, Braun called out Swift on Instagram after he said his family received death threats following Swift’s claim that Borchetta and Braun were blocking her from performing her older songs at the 2019 American Music Awards and preventing the release of her Netflix documentary, Miss Americana. After back-and-forth statements, Big Machine said they’d reached an agreement to allow Swift to perform her songs at the AMAs.
“At this point with safety becoming a concern I have no choice other than to publicly ask for us to come together and try to find a resolution,” Braun wrote in part. “I have tried repeatedly through your representatives to achieve a solution but unfortunately here we are. This game of telephone isn’t working.”
“I have spent my entire career in service of creatives and artists, never the other way around,” he added at the time.
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