Taylor Swift’s Dad Had No idea Prior to Making $15 Million in Her Music Catalog Sale
The selling of Taylor Swift’s music back catalog is once more in the news. A source explained that Scott Swift, Taylor’s father, was not aware of the planned action, despite whatever money he may have gained from the highly-publicized sale of her song collection to Scooter Braun, contrary to a story by song Business Worldwide that claimed otherwise.
The controversy started 48 hours before Scooter’s 2019 acquisition of Scott Borchetta’s Big Machine Label Group was made public, a source explained. The source says that the transaction, which allegedly cost $300 million, was inevitable because Scott Borchetta owned 90% of the shares.
According to the source, Taylor’s father didn’t know about the deal before it closed and purposefully avoided a private, NDA-signed phone contact about a prospective contract so that he wouldn’t have to keep Taylor in the dark.
RELATED : Taylor Swift Sings ‘Falling Back in Love’ on New Collaboration
Taylor Swift’s Dad Scott Swift Made $15M In Music Catalog Sale
According to Taylor’s representative, who reiterates this, “There was a shareholder phone call that Scott Swift did not engage in owing to a very tight NDA that tied all shareholders and prevented any discussion at all without running the danger of severe penalties. Her father chose not to take part in the call since he did not want to be forced to keep anything from his own daughter.
Taylor Swift has criticized the agreement since it was announced, alleging that she was never given the option to sell her songs and that she wasn’t informed about Scooter’s acquisition until it was made public. Scott Borchetta has refuted Taylor’s claims.
RELATED : Taylor Swift Kicks Off Pride Month with ‘This Is a Safe Space for You’ Speech at Chicago Concert
Taylor has long stuck to her story, though, and now her rep tells ET, “Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta, and he did not call her in advance.”
Never miss breaking news or exclusive stories about your favourite celebs, TV series, and more by subscribing to US Celebrity Times daily email!
