Taylor Swift has revealed that her old masters catalogue has now been sold a second time without her knowledge.
It’s been reported that Scooter Braun has now sold the rights to Taylor’s old masters catalogue with Big Machine in a big money deal for $300million (£227million) – a year after acquiring the Big Machine Label Group.
After hearing the news fans were left confused over the mystery buyer, prompting Taylor to take Twitter to release a statement addressing Scooter’s sale and who now owns her old recordings.
She revealed that another party, Shamrock Holdings, have purchased it and contacted her prior to the sale taking place, despite Scooter allegedly requiring that they make no contact with Taylor or her team in order for the deal to go ahead.
Taylor explained that Scooter will still be ‘profiting’ from her old music catalogue for many years and because of that reason, she has decided against partnering with Shamrock Holdings and will instead continue with her plans to re-record her old music.
The singer, 30, tweeted a letter she had sent Shamrock Holdings regarding the sale, alongside her statement and a message to fans that read: ‘Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up.’
Taylor revealed that for the past year she has been negotiating with Scooter to try and regain ownership of her master recordings.
She claims that Scooter’s team asked her to sign a non-disclosure agreement, stating that she would ‘never say another word about Scooter unless it was positive’, before even being allowed to look at the financial records of Big Machine.
Taylor alleges that Scooter wouldn’t quote her team a price for the recordings, adding: ‘These master recordings were not for sale to me.’
‘As soon as we started communication with Shamrock, I learned that under their terms Scooter will continue to profit off my music catalog for many years. I was hopeful and open to the possibility of a partnership with Shamrock, but Scooter’s participation is a non-starter for me,’ she wrote.
‘I have recently begun re-recording my older music and it has already proven to be both exciting and creatively fulfilling. I have plenty of surprises in store,’ Taylor teased fans.
She also posted a copy of the letter she had sent private equity group Shamrock Holdings at the end of October in order for ‘transparency and clarification’.
Within the letter, Taylor outlines why she cannot partner with the company, writing: ‘I simply cannot in good conscience bring myself to be involved in benefitting Scooter Braun’s interests directly of indirectly. As a result, I cannot currently entertain being partners with you.
‘It’s a shame to know that I will now be unable to help grow the future of these past works and it pains me very deeply to remain separated from the music I spent over a decade creating, but this is a sacrifice I will have to make to keep Scooter Braun out of my life.’
Shake It Off hit-maker Taylor had famously clashed with Scooter, who manages the likes of Justin Bieber and Demi Lovato, and her former label last year after he brought her masters catalogue for over $330million (£229m).
The masters includes almost every piece of music Taylor recorded and released over an 11-year period from 2006 to 2017, including her albums Red and 1989.
She publicly called out the music manager in June 2019 in a post on Tumblr, accusing him of bullying her and ‘stripping her of her life’s work’.
Scooter, meanwhile, has denied having ‘malicious intent’ and attempted to set the record straight in multiple interviews since, insisting he always tries to do things ‘above board’ and in the ‘right way’.
Taylor has since released her last two albums 2019’s Lover and Folklore, which dropped earlier this year, under new label Republic.
Metro.co.uk has reached out to Scooter’s reps for comment.
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