Scooter Braun, manager of pop icons Justin Bieber and Ariana Grande, agreed to buy Nashville record label Big Machine, which owns the Taylor Swift catalog
Celebrity talent manager Scooter Braun, left, whose Ithaca Holdings LLC gains a roster of country and pop artists with its acquisition of Big Machine Label Group, with founder Scott Borchetta, right. Photo: Kevin Mazur By Anne Steele June 30, 2019 7:10 am ET Celebrity talent manager Scooter Braun reached a deal to acquire Big Machine Label Group LLC, creating a mini-conglomerate with an array of businesses to help it compete in the streaming-entertainment age.In acquiring Big Machine, Mr.
As part of the deal, private-equity firm Carlyle Group CG 1.94% LP, which has been a minority investor in Ithaca since 2017, will make another investment valuing the holding company at more than $800 million, according to a person familiar with the matter. Mr. Braun remains the largest shareholder of Ithaca, according to one of the people.
Through Ithaca, the 38-year-old Mr. Braun has interests across music, film, TV, brands and technology. It includes his management firm as well as stakes in independent movie company Mythos Studios. Big Machine and Schoolboy Records’ distribution deals with Universal are up within around the next 18 months, according to people familiar with the matter, who added that both expect to renew those deals.
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