Music manager Scooter Braun sold Taylor Swift’s first six albums to an investment firm in a deal that values the assets at around $300 million.
Braun, who manages Ariana Grande and Justin Bieber, partnered with the Carlyle Group, 23 Capital and George Soros to buy Tennessee-based country record labelBig Machine for about $300 million last year thereby acquiring Taylor Swift's masters.
Taylor Swift responded to Scooter Braun’s sale of her master records on Monday with a lengthy letter to fans explaining the state of her music and more.
“This was the second time my music had been sold without my knowledge,” the “Cardigan” singer wrote.
Swift is however free to re-record songs from her first five BMLG-issued albums as of this month. While most contemporary recording contracts have provisions prohibiting the artist from recutting material for a period of years, Swift likely had favorable terms in her contract that would make her songs eligible for re-recording at a certain point after the end of each album cycle, not the end of her overall contract.