Yesterday, Taylor Swift made a shocking revelation that her master recordings have been sold to private equity company without keeping her in a conversation. Read on to know more details.
For the unversed, the Blank Space singer was signed to Big Machine record label, which she left in 2018. In 2019, Scooter Braun acquired the ownership of the label back in 2019. Since then, there have been not-so-good relations between the singer and Braun.
As per Variety, Scooter Braun has sold the master records of Taylor Swift’s first six albums and that too without her knowledge. The sale includes her catalog from the debut album to her 2017 album, Reputation. The deal is said to be locked of around $300 million with a private-equity company called Shamrock Holdings.
Confirming it, Taylor Swift wrote on Twitter, “Scooter’s team wanted me to sign an ironclad NDA stating I would never say another word about Scooter Braun unless it was positive before we could even look at the financial records of BMLG (which is always the first step in a purchase of this nature),” she wrote. “So, I would have to sign a document that would silence me forever before I could even have a chance to bid on my own work.”
Swift revealed of receiving a letter from Shamrock Holdings, which stated of holding all the rights of her music, videos and album art. She informed her fans that Scooter Braun didn’t bother to contact her before making a sale.
“This was the second time my music had been sold without my knowledge. The letter told me that they wanted to reach out before the sale to let me know, but that Scooter Braun had required that they make no contact with me or my team, or the deal would be off.
As soon as we started communication with Shamrock, I learned that under their terms Scooter Braun will continue to profit off my old musical catalog for many years. I was hopeful and open to the possibility of a partnership with Shamrock, but Scooter’s participation is a non-starter for me,” she continued.
Taylor Swift even informed her fans that she has already begun re-recording her old stuff and has plenty of surprises in store.
Here’s the entire post:
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