Braun’s Ithaca Holdings Buys Big Machine
• UPDATED: Ithaca Holdings, LLC, a media holding company led by SB Projects founder Scooter Braun, and Big Machine Label Group, a leading independent record label founded by Scott Borchetta, on Sunday announced a finalized contract under which Ithaca Holdings will acquire Big Machine Label Group. The acquisition encompasses all aspects of BMLG’s business, including its client roster, distribution deals, publishing sides and owned artist masters. Borchetta will join the Ithaca board, acquire a minority interest in Ithaca and remain President and CEO of BMLG. BMLG will continue normal operations out of Nashville.•
“The idea of Scott and I working together is nothing new, we’ve been talking about it since the beginning of our friendship,” said Braun. “I reached out to him when I saw an opportunity and, after many conversations, realized our visions were aligned. He’s built a brilliant company full of iconic songs and artists. Who wouldn’t want to be a part of that? By joining together, we will create more opportunities for artists than ever before, by giving them the support and tools to go after whatever dreams they wish to pursue.”
Borchetta said, “Scooter and I have been aligned with ‘big vision brings big results’ from the very first time we met in 2010. Since then I have watched him build an incredible and diverse company that is a perfect complement to the Big Machine Label Group. Our artist-first spirit and combined roster of talent, executives, and assets is now a global force to be reckoned with. This is a very special day and the beginning of what is sure to be a fantastic partnership and historic run.”
Ithaca Holdings houses Braun’s SB Projects, which services such superstar acts as Ariana Grande, Justin Bieber, J. Balvin, Demi Lovato, Tori Kelly, Zac Brown Band, Dan + Shay and many more. BMLG was founded in 2005 by President & CEO Scott Borchetta and is home to Taylor Swift‘s music catalogue and superstar artists such as Reba McEntire, Sheryl Crow, Florida Georgia Line, Thomas Rhett, Rascal Flatts and Lady Antebellum. The label group encompasses four imprints including Big Machine Records, The Valory Music Co., BMLG Records and Big Machine/John Varvatos Records. In 2012, BMLG launched publishing company Big Machine Music, which today publishes hit songwriters such as Luke Combs, Jonathan Singleton, Brandy Clark and Laura Veltz.
• Interestingly, there is one person who does not appear to be a fan of Big Machine’s sale to Scooter Braun — read Taylor Swift‘s candid Tumblr post below.
• Late yesterday, Scott Borchetta responded to Taylor’s post with a post of his own on the Big Machine website, titled “So It’s Time For Some Truth.” Both posts make for some fascinating reading…
