Approximately 17 months after Scooter Braun’s Ithaca Holdings LLC acquired Big Machine Label Group and all of its recorded music assets, including Taylor Swift‘s first six albums, the mega-music manager has sold the master rights to those projects.
Ithaca purchased the Nashville-based independent record label Big Machine, founded by Scott Borchetta in 2005, in June 2019 for just over $300 million, of which Swift’s catalog — from her 2006 self-titled debut to 2017’s Reputation — was believed to be worth some $140 million. In the last two weeks, an undisclosed buyer acquired the work in a deal that is believed to be north of $300 million, with some estimates as high as $450 million once certain factors are included.
After hearing the news of the acquisition back in 2019, Taylor Swift announced that she intended to re-record the songs bought and sold by Braun and seems to have already gotten a head start on the process.
Swift’s two most recent albums, Lover and folklore, were released through Universal Music Group and are not subject to the recent Scooter Braun-orchestrated deals. Watch this space for updates on the situation.
Photo (Cropped): E Palen