NASHVILLE, TN (CelebrityAccess) — Even as Taylor Swift's latest album does blockbuster business in its first week, her label home, Big Machine Records, has reportedly been put up for sale.
According to the New York Post, label founder Scott Borchetta is reportedly weighing a sale of Big Machine and is looking for upwards of a quarter of a billion dollars for the label group. However, sources told the Post that the sale would be contingent on Swift's affiliation with the label as the singer just owes one more album to the label under the terms of her her current contract and represents a significant portion of Big Machine's market value.
The labels roster includes other artists such as Reba, Florida Georgia Line, Tim McGraw, Rascal Flatts and The Band Perry among others.
The Post reported that Lucian Grainge's Universal Music Group was the leading candidate to acquire Big Machine. UMG currently handles distribution for Big Machine, though, that contract is nearing its expiration date as well.
As well, UMG has partnered with Big Machine in the Republic Nashville label and the recently launched Dot Records. – Staff Writers