DURBAN - Scooter Braun's company Ithaca Holdings has recently purchased Big Machine Label Group, formally owned by Scott Borchetta giving Braun control of Taylor Swift's complete music catalog, according to Forbes.
The Wall Street Journal reported that the sale was $300 million and the acquisition includes all of businesses that were owned by Big Machine.
Borchetta discovered Swift when she just 15-years-old and she became one of the first signings of the Big Machine Records label.
On Tumblr Swift revealed that pleaded to be given the opportunity to own her work for years according to Forbes. Swift further said on Tumblr that when her contract was up for renewal she was allegedly given the choice to sign back with Big Machine Records and earn one album back at a time for every new album that she turned in.
Braun's Ithaca Holdings now has control of the artists masters as well as the client roster, distribution deals and publishing sides.
Borchetta will join the Ithaca board and he will stay on as president and Chief Executive of Big Machine.
Scooter Braun is a celebrity talent manager and his most famous client is Justin Bieber and he is credited with discovering Canadian artist after watching videos of Bieber on YouTube.
Some of Braun's other clients include Ariana Grande, Cody Simpson, Carly Rae Jepsen and Tori Kelly amongst others.
Braun's net worth is $400 million and he previously worked for music producer Jermaine Dupri's at Dupri's record label So So Def Records. At So So Def Records Braun eventually held the position of executive director of marketing.
According to Celebrity Net Worth, Ithaca Holdings owns ventures across multiple industries including television, film and technology.
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