INsiders have been abuzz with reports that Big Machine is soliciting offers. According to various reports, Pres./CEO Scott Borchetta is valuing the company in the $225 million range. Billboard has raised some questions about whether Taylor Swift, “comes with the deal” and what obligations remain on her contract. Also of interest, Big Machine’s UMG distribution contract expires at year end. Could this sudden sale interest be a negotiation strategy to extract a better deal? According to Billboard, Florida Georgia Line and Band Perry are part of joint venture deals and therefore will remain with Universal even if Big Machine is sold. Attorney Joel Katz is representing Borchetta and BigMachine. The latest development in the story is that Big Machine has pulled Swift’s catalog from streaming service Spotify prompting the streamer to write a blog asking for them to rethink that decision and prompting a Spotify employee to comment, “Scott Borchetta is a very old-school thinker. He’s wrong.” Meanwhile reports indicate that debut week sales of Swift’s newest should exceed a whopping 1.3 million units proving that he may not be so old fashioned after all!
And finally Borchetta told All Access late on Monday that the label is not for sale. Does that mean distribution deal renewal is signed?