Scooter Braun’s Ithaca Holdings has agreed to acquire Scott Borchetta’s Big Machine Label Group in a blockbuster deal backed by the Carlyle Group. Terms of the agreement were not disclosed, but it also includes the music publishing operation, Big Machine Music.
Scott Borchetta and Scooter Braun pose for a photo at a private residence on June 28, 2019 in Montecito, Calif.Scooter Braun’s Ithaca Holdings has agreed to acquire Scott Borchetta’s Big Machine Label Group in a blockbuster deal backed by the Carlyle Group.the deal topped $300 million and also includes the music publishing operation, Big Machine Music.
“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. “I reached out to him when I saw an opportunity and, after many conversations, realized our visions were aligned. He’s built a brilliant company full of iconic songs and artists.
As part of the deal, Borchetta will acquire a minority interest in Ithaca and join its board while remaining president and CEO of BMLG. Rounding out the company’s capabilities, Ithaca launched Raised in Space, an investment fund focused on the intersection of music and technology led by former BMG President Zach Katz. Beyond music, Ithaca also started Mythos Studios in partnership with Marvel Studios founding chairman David Maisel. The various entities are expected to continue normal operations.
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