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Taylor Swift just can’t shake off private equity.
Los Angeles-based Shamrock Capital reportedly acquired the rights to the pop star’s first six albums for around $ 300 million from a group that includes Ithaca Holdings, a media holding led by famed music manager Scooter Braun. and a portfolio company of the Carlyle Group. Variety first signaled the deal, with Swift subsequently confirming the sale through a statement on Twitter.
Swift’s involvement with private equity began in June 2019, when Ithaca paid $ 300 million for Big Machine Label Group, the label with which he recorded his first six albums. Swift reacted by publishing a note describing the deal as its worst-case scenario. Then you posted a tweet in November 2019 claiming that Braun, who previously ran Swift’s longtime antagonist Kanye West, was trying to stop her from performing some of her old music and was asking Carlyle for help.
Swift wrote that neither Ithaca nor Shamrock contacted her prior to this week’s sale, but that Shamrock contacted her after a deal was reached, with the New York Times reporting that the company offered the star. the ability to invest in the transaction. But Swift said she turned it down because the terms of the deal mean Braun, with whom she has long quarreled, will continue to benefit financially from the albums. Swift also confirmed plans to re-record her first six albums.
“I was confident and open to the possibility of a partnership with Shamrock,” he wrote. “But the participation of Scooter is not a beginning for me”.
In July, Shamrock closed a new $ 400 million content fund that aims to acquire intellectual property rights in music, movies and more. The company was founded in 1978 as the family office of Roy E. Disney, Walt Disney’s grandson. Now it invests exclusively in the media, entertainment and communication sectors.
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