The very talented American singer and songwriter Taylor Swift, who is best known for her smashing hit singles and albums, is once again caught up in a media drama making headlines in several publications for an allegation against her father.
This article is a close examination of the current trending issue regarding the sale of Taylor’s music catalog and the whopping profit made by her father – Scott Swift. Let’s dive right into the juicy details.
The Entire Detail About The Sale Of A Music Catalog Of Singer Taylor Swift. How Was Her Father Involved In It?
For the longest time in her music career, Taylor Swift was signed to a music company called Big Machine Label. Her father Scott Swift was a shareholder of the company up until the scandalous takeover of Scooter Braun as the new owner back in 2019. Scooter bought the label for a whopping sum of 330 million USD from former owner Scott Borchetta.
Recently, the media outlet ‘Music Business Worldwide‘ has published an article that claims that Taylor Swift’s father made a whopping profit of 15 million USD as a shareholder during the entire selling process of her music catalog to Scooter Braun in 2019.
However, at the time of the controversy, both Taylor and her father alleged that neither of the two was aware of such a crucial decision as to the sale of her entire music. Taylor even went as far as to take legal action against Scooter but it led to no result.
Was Taylor Swift’s Father Aware Of The Situation And Profit At Stake?
Since the publication of the recent allegation article against Taylor’s father, the whole controversy has resurfaced once again. Taylor and Scott’s representatives have all claimed that such allegations are false and not based on facts.
Taylor Swift’s representative whose identity has not been disclosed said “There was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that… prohibited any discussion at all without risk of severe penalty. Her dad did not join that call because he did not want to be required to withhold any information from his own daughter”.
In this statement, the person was referring to a sudden shareholders meeting called just 48 hours before the sale took place. Scott Swift had no clue that he was being invited to that meeting which was to determine the fate of his daughter’s music career.
Hence, Scott Swift was never made aware of the amount of profit he was to make. Only after the official transfer to Braun took place that, both Taylor and her father received the information.