Scooter Braun and Scott Borchetta speak out — but NOT about Taylor Swift.
After the manager’s Ithaca Holdings acquired Big Machine Label Group and its publishing unit for just over $300 million in a deal backed by private equity firm The Carlyle Group, the Shake It Off singer wrote a scathing Tumblr post saying she was “sad and grossed out” by the news.
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In response, Borchetta — the label’s founder — penned a blog post attempting to defend Braun as well as refute some of the musician’s points.
In an interview with Billboard published on Thursday, Braun and Borchetta discuss their new deal, but would not comment on the 29-year-old’s reaction.
And in regards to when they first discussed plans for the acquisition, Borchetta — who is now a minority stakeholder and board member in Braun’s holding company — replied:
“There was a conversation a few years back and it never really got off the ground, but it was fascinating to me even then. There were a lot of things we would throw back and forth — we ended up doing something together with Rascal Flatts and Justin Bieber — and then it got very serious last fall.”
When asked why Big Machine was such an attractive asset, Braun responded:
“Scott runs an incredible company, and we’re trying to build an artist-first environment and — in a climate with a lot of players — get the leverage we need to help our creators go after their dreams. By combining what Scott had with what we had, we feel like we’re in a unique position to fight the good fight.”
Borchetta — who spoke to potential buyers for years — also explained why he held out so long to sell.
“I never felt like it was exactly the right time or the right fit. I promised myself, and our artists and executives, it was going to be one of two things: Either I’m out — and I had no desire to be out — or I’m going to find an opportunity that is truly additive, that can give us more arms and legs and levers than we have now. [Until now] it never really felt like I could live up to that promise.”
When asked about the first three steps they are taking to combine their operations, Borchetta answered:
“Something we talked about in our very first conversation was, ‘How can we take all of these wonderful artists and executives and cut a wider swath through the noise out there?’ As we start building out, we’re going to completely re-create how we’re marketing our releases. Now that we’re in this digital space, how do we create those blockbuster weeks that we used to be able to do in a physical world? Just a few of the things we’ve touched on already are so exciting.'”
Read the full interview HERE.
[Image via Apega/FayesVision/Nikki Nelson/WENN.]
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