On Monday, Kevin Mazur/Getty Images for NetflixTaylor Swift expressed her disappointment after it was revealed that music manager Scooter Braun sold her master recordings to another buyer a mere 17 months after acquiring them.
While Taylor was initially optimistic about the deal, she then learned that Braun would continue to profit from her recordings “for years to come” — so she told the new owners she coudn’t work with them. She also posted the letter she’d written to them explaining the situation.
Now, Shamrock Capital Content Fund, the new owner’s of Swift’s back catalogue, which covers her albums from her eponymous debut album to Reputation, is speaking out after intense backlash from fans and supporters of the “cardigan” singer.
In a statement to Rolling Stone, the investment fund said, “Taylor Swift is a transcendent artist with a timeless catalog.”
“We made this investment because we believe in the immense value and opportunity that comes with her work,” continued Shamrock. “We fully respect and support her decision and, while we hoped to formally partner, we also knew this was a possible outcome that we considered.”
“We appreciate Taylor’s open communication and professionalism with us these last few weeks,” the company continued. “We hope to partner with her in new ways moving forward and remain committed to investing with artists in their work.”
As previously reported, Swift is now re-recording her old music after she attempted to negotiate a buyback of the masters from Braun. But she claimed that Braun wouldn’t even quote her a price unless she signed an “ironclad Non Disclosure Agreement (NDA) stating I would never say another word about Scooter Braun unless it was positive.”
By Megan Stone
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