Borchetta will acquire a minority interest in Ithaca and join its board while remaining president and CEO of BMLG. The company also announced that Carlyle will remain a minority shareholder in Ithaca and continue to support the combined company’s growth strategy with Carlyle Group global consumer, media and retail team head Jay Sammons remaining on Ithaca’s board. The deal is being financed by the Carlyle Group’s Carlyle Partners VI Fund, alongside Braun and Ithaca Holdings. Who wouldn’t want to be a part of that? By joining together, we will create more opportunities for artists than ever before, by giving them the support and tools to go after whatever dreams they wish to pursue.”
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He’s built a brilliant company full of iconic songs and artists. “I reached out to him when I saw an opportunity and, after many conversations, realized our visions were aligned. “The idea of Scott and I working together is nothing new, we’ve been talking about it since the beginning of our friendship,” Braun said in a statement. The deal topped $300 million and also included Big Machine Music, the music publishing operation. It was announced on June 30 that Braun’s Ithaca Holdings agreed to acquire Borchetta’s Big Machine Label Group in a blockbuster deal backed by the massive global investment firm the Carlyle Group. Here’s a timeline of everything that’s happened so far.īraun acquires Borchetta’s Big Machine Records Label Group, including Swift’s catalog for over $300 million
Big Machine and Taylor Swift Trade Barbs Over TV Performance Rights, Money Claims
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