Billionaire Taylor Swift pays eye-watering sum to snatch back her music empire
The pop superstar, 35, struck a settlement with private equity firm Shamrock Capital, who purchased the rights to the records from music mogul Scooter Braun in November 2020.
Sources close to the contract negotiations claimed to MailOnline that the recent figure touted for the buy-back deal 'between $600million-$1billion' is 'highly inaccurate'.
A different source told Billboard that Shamrock sold Swift's catalog back to her for a figure reportedly close to what they paid — around $360 million.
But in a hand-written letter posted on her website, Taylor, who is worth over $1billion, claims the money she made from her lucrative Eras tour last year has helped bankroll the purchase of her old material and 'her entire life's work'.
She said: 'All I've ever wanted was the opportunity to work hard enough to be able to one day purchase my music outright with no strings attached, no partnership, with full autonomy. '
Taylor then thanked Shamrock Capital for their 'honest, fair and respectful' way they handled the deal, adding: 'I really felt like they saw it for what it was to me: My memories and my sweat and my handwriting and my decades of dreams.'
She then joked: 'My first tattoo might just be a huge shamrock in the middle of my forehead.'
Justin Bieber's old manager Scooter controversially acquired the rights to Taylor's material for S300million after buying her old record label, Big Machine Media, in 2019 before selling them on to Shamrock Capital for profit.
The Love Story singer, who branded Scooter a 'bully' for tactics, was unaware of his plan and also claimed when she previously approached Big Machine label head Scott Borchetta about buying her masters beforehand, he allegedly would only sell her them one at a time, starting from her earliest, least-profitable recordings.
In exchange for the option to buy the masters back, Taylor claimed she would have to record a new album for the label in exchange for each old recording she bought, shackling her to Big Machine for years to come just when she was eager to leave the label.
The singer posted an emotional Tumblr telling fans she made the 'excruciating choice to leave behind my past. 'Music I wrote on my bedroom floor and videos I dreamed up and paid for from the money I earned playing in bars, then clubs, then arenas, then stadiums.'
She added: 'Never in my worst nightmares did I imagine the buyer would be Scooter.
'Any time Scott Borchetta has heard the words 'Scooter Braun' escape my lips, it was when I was either crying or trying not to.
'He knew what he was doing; they both did. Controlling a woman who didn't want to be associated with them. In perpetuity. That means forever.'
She added that when she heard the news: 'All I could think about was the incessant, manipulative bullying I've received at his hands for years.'
Swift then listed a string of examples accusing Kim Kardashian and Kanye West – then Braun's client – of bullying.
Shamrock acquired the master recordings to Taylor Swift, Fearless, Speak Now, Red, 1989 and Reputation – which Taylor has now regained ownership of, having previously led a campaign to re-record her first six albums, four of which she's successfully completed.
Reputation (Taylor's Version) was heavily tipped to be her next release and the singer addressed the rumors in her open letter, saying it's the 'one album I thought couldn't be improved upon by redoing it' but teased she may still record another version, as well as offer up 'unreleased Vault tracks' from that album.
Taylor says she has re-recorded the entirety of her debut self-titled album which, like Reputation, will 're-emerge when the time is right.'
Music sources had previously claimed Scooter played a role in helping Taylor and Shamrock Capital agree a deal for the buy-back, in a bid to claim much-needed positive PR in wake of her career imploding following his feud with the singer.
But according to sources close to the contract negotiations, he played zero part.
An insider told MailOnline: 'Contrary to a previous false report, there was no outside party who 'encouraged' this sale.
'All rightful credit for this opportunity should go to the partners at Shamrock Capital and Taylor's Nashville-based management team only.
Taylor now owns all of her music, and this moment finally happened in spite of Scooter Braun, not because of him.'
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