It’s been almost two years since Scooter Braun purchased Taylor Swift’s masters and unleashed nearly two-years worth of drama.
According to sources, Scooter’s Ithaca Holdings LLC has sold the master rights to Taylor Swift’s first six albums.
The buyer, an investment fund, is as yet unknown but the deal is believed to be north of $300 million.
Ithaca purchased the Nashville-based independent record label Big Machine, founded by Scott Borchetta in 2005, in June 2019 for just over $300 million. The acquisition encompassed all aspects of BMLG’s business, including its client roster, distribution deals, publishing and owned artist masters. Swift signed with BMLG at the beginning of her career. Her contract with the label expired in fall 2018, after which she signed a deal for future recordings with Universal Music Group.
Swift is free to re-record songs from her first five BMLG-issued albums as of this month. While most contemporary recording contracts have provisions prohibiting the artist from recutting material for a period of years, Swift likely had favorable terms in her contract that would make her songs eligible for re-recording at a certain point after the end of each album cycle, not the end of her overall contract.
Taylor Swift has spoken out on the sale of her masters. See what she had to say about the ordeal below.
Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up. pic.twitter.com/sscKXp2ibD
— Taylor Swift (@taylorswift13) November 16, 2020