File this story in the “I Don’t Give a Shit” folder!
Betcha the lawyers are sharpening their pencils as we speak!
source: CBS News
Taylor Swift says she’s going to re-record the masters of her earlier songs to regain control over them after her catalog was sold in a recent blockbuster business deal.
Swift told CBS News’ Tracy Smith in an interview airing this weekend on “CBS Sunday Morning” that she’s going to create the new masters to offset the deal. It put the earlier versions in the hands of music mogul Scooter Braun, a talent agent with whom Swift has had a contentious relationship.
In June, Braun got the rights to Swift’s masters – and more – when his media holding company, Ithica Holdings, acquired Scott Borchetta’s Big Machine Label Group for a reported $300 million.
In a Tumblr post at the time, Swift accused Braun of “manipulative bullying” and claimed she only learned of the deal “as it was announced to the world.”
That deprived her of the opportunity to buy back her music. When artists own their masters, they not only have control over their recordings, they typically rake in a lot more money.