Controversy over Scooter Braun’s possession of Taylor Swift’s masters has arisen again, after the famed executive’s Ithaca Holdings LLC reportedly sold Swift’s masters for over $300 million. This controversy first erupted last year, when Braun first acquired the rights to her music in another $300 million deal. These masters were reportedly sold to a private equity firm called Shamrock Holdings.
Swift alleged that her legal team attempted to negotiate with Braun to earn back her masters, but alleged that she was advised to sign a non-disclosure agreement (NDA), which would have prevented her from speaking out about the executive in a negative manner. The performer also alleged that her team was never given a price for the masters.
“My legal team said that this is absolutely NOT normal, and they’ve never seen an NDA like this presented unless it was to silence an accuser by paying them off,” Swift wrote in a letter shared to Twitter. “He would never even quote my team a price. These master recordings were not for sale to me.”
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
The fallout from Braun’s deal lasted most of 2019, as Swift alleged that Braun and Scott Borchetta, the CEO of Big Machine Records, Swift’s first label, attempted to bar her from performing old songs at the AMA Awards. Borchetta and Braun denied the allegations, while Big Machine Records released a statement saying she could continue to perform old music at the AMAs. Those in Braun’s camp also denied the allegation that Swift was not offered her masters.
Swift has since been signed to Universal Music Group and their subsidiary Republic records, who released her last album Folklore, earlier this year. According to her letter, Swift is working out a deal with Shamrock Holdings, who have also publicly expressed interest in negotiating with the artist. The performer has made further allegations that Braun can continue to profit off of her music if her camp purchases it from Shamrock Holdings, and will continue with her plans to re-record these masters.