When Taylor blasted Scooter Braun and Scott Borchetta on social media, Swifties Elizabeth Warren and AOC seized on the music execs' ties to private equity.
After Taylor Swift went public Thursday in her fight against her former label, Big Machine says it’s not preventing the star from performing her music.Her name-check of the Washington, D.C.-based Carlyle Group private equity firm in her social media plea to elicit fan support brought the role of private equity in the sale of Big Machine to Braun front and center for her audience as well as politicians who have targeted the practice in their campaigns.
, which also states that the firm has interests in “365 investment vehicles” globally. It was not specified how much of the $300-million price Braun paid to buy BMLG came from the Carlyle Group, but even if it was the full amount, that would represent barely more than one-tenth of 1% of its stated investment assets under management.
In recent years private equity firms such as TPG and Blackstone Group Inc. have invested in music companies including streaming giant Spotify, publishing rights groups such as SESAC and the Harry Fox Agency SA in addition to TPG’s stakes in movie studios including STX Entertainment, which made “Hustlers,” and Blackstone’s investment in Merlin Entertainment, which owns Legoland in Carlsbad.
Swift said the Big Machine camp’s legal team argued that they would consider her performance of any older songs on the awards show, where she is scheduled to be crowned “artist of the decade,” to be a re-recording of those songs, given that the program is taped for later broadcast on the West Coast.
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