Source: Getty Images
Taylor Swift has announced she will be rerecording her old music to gain creative control after her musical catalog was sold in a blockbuster deal to Scooter Braun.
According to CBS News, Braun gained the rights to Swift’s first six albums after his media holding company, Ithaca Holdings, acquired Scott Borchetta’s Big Machine Label Group for a reported $300 million in June.
Lover, album out August 23. Cover shot by the artistic genius that is @valheria123 💗 Pre-add, pre-save, pre-order (all the pre stuff you feel like doing) Can’t wait for you to hear this. https://t.co/SGjcCUYZdM pic.twitter.com/IPy54raQUF
— Taylor Swift (@taylorswift13) June 13, 2019
Swift told CBS she will be creating new masters to offset the deal.
The singer, who is now signed with Universal Music Group, signed with Big Machine Label when she was just 15. In a Tumblr post denouncing Scooter Braun’s acquisition of her music, Swift revealed she “walked away (in November, to Universal Music Group) because I knew once I signed (a new) contract, Scott Borchetta would sell the label, thereby selling me and my future.”