US singer Taylor Swift has confirmed that music mogul Scooter Braun has sold the rights to her first six albums to an investment fund. The deal, first reported by Variety, is thought to be worth more than $300 million (£227 million). Swift wrote on Twitter that this was "the second time my music had been sold without my knowledge."
The sale marks the latest development in a long-running dispute between Swift and Braun. Swift signed with Big Machine Records in 2004, granting the label ownership of the master recordings to her first six albums. Braun acquired Big Machine in June 2019, along with the rights to most of Swift's work. Swift has accused Braun of trying to "dismantle" her musical legacy, while Braun has said the dispute "got out of hand" after his family received death threats.
Swift said she had been "actively trying to regain ownership of my master recordings" in 2020 and attempted to enter talks with Braun. She claimed his legal team demanded she sign a non-disclosure agreement stating she would never speak negatively about him. Recently, private equity company Shamrock Holdings contacted Swift, saying they had bought her music and album art from Braun. However, Swift learned that Braun would continue to profit from her old music under the terms of the deal.
"I simply cannot in good conscience bring myself to be involved in benefiting Scooter Braun's interests," Swift wrote in a letter to Shamrock, which she shared on Twitter. She also announced she has begun re-recording some of her older music. Shamrock Capital, which now owns Swift's first six albums, is a private equity firm originally set up by the Disney family. In a statement, the company said it fully respects and supports Swift's decision.
