The music business can be a cold and brutal one sometimes even for the biggest of stars. Scooter Braun and his media holding company Ithaca Holdings LLC sold the master rights to Taylor Swift’s first six albums.Hours after it was reportedly sold, Taylor Swift put out a statement through Twitter attempting to clear up some questions regarding the matter to fans.
In the posted statement she says Braun tried to get her to “sign an ironclad [non-disclosure agreement” that wouldn’t allow her to publicly speak about him unless the words she was saying were positive. She also says that, a few weeks ago, she was informed “100 percent of [her] music, videos, and album art” was purchased from Braun by a private equity company called Shamrock Holdings. She says that the deal will also allow Braun “to profit” off her old music catalog, and that she declined to partner with Shamrock (which she says she was open to) because it would also put her in a business relationship with Braun.
She adds that she’s re-recording old music, and that she has “plenty of surprises in store.”
You can read her full statement, which is also paired with the letter she claims to have sent to reps from Shamrock Holdings last month, 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
Swift had been signed to Big Machine for 12 years—between 2006 and 2018—and released six studio albums with the label. After her contract expired she signed a new deal with Universal Music Group.