As you may remember, there was quite a kerfuffle last year after it was revealed that music manager and entrepreneur Scooter Braun bought the rights to Taylor Swift's first six albums.
In short, Swift was incensed by the fact that Braun's company Ithaca Holdings LLC had bought the Big Machine label without giving her the opportunity to make a bid for it herself. As her first six albums were released on Big Machine, it meant that Braun essentially owned the majority of her back catalogue, up until 2017.
Now, Braun has once again sold on the masters - this time to an investment fund called Shamrock Holdings Ltd., for a reported $300 million. Swift got wind of the transaction and once again, she is not a happy bunny.
Been getting a lot of questions about the recent sale of my old masters. I hope this clears things up. pic.twitter.com/sscKXp2ibD
— Taylor Swift (@taylorswift13) November 16, 2020
She released a statement last night saying that her team had attempted to engage regarding the sale, but negotiations shut down after she was asked to sign an “ironclad NDA that I would never say another word about Scooter Braun unless it was positive" and noted that her legal team confirmed that such a condition was "NOT normal".
Instead, the deal with Shamrock Holdings Ltd. went ahead without her knowledge. She noted how the investment fund had “wanted to reach out before the sale to let me know, but that Scooter Braun had required that they make no contact with me or my team, or the deal would be off.” She ruled out any chance of working with Shamrock Holdings after learning that Braun "will continue to profit off my old catalog for many years.”
Instead, she intends to re-record all of those six albums - which she was entitled to do from November 2020. She confirmed that that process had already started, saying "I have recently begun re-recording my older music and it has already proven to be both exciting and creatively fulfilling" and that she had "plenty of surprises in store".
In a separate letter to Shamrock Holdings, she said "I know this will diminish the value of my old masters, but I hope you understand that this is my only way of regaining the sense of pride I once had when hearing songs from my first six albums and also allowing my fans to listen to those albums without feelings of guilt for benefiting Scooter."
Swift's last two albums - 2019's 'Lover' and this year's 'Folklore' - were both released on Universal Music Group.