Apple rumored to be buying Big Machine Label Group

Multiple sources are relating this information

New rumors indicate that Apple is planning to buy Big Machine Label Group (BMLG) for $250 million.

Hits Daily Double reports that sources close to the situation say that Apple’s iTunes is “in the process of acquiring” the number one independent record label in the world. Since iTunes is technically software released by Apple, Apple is technically the company “in the process of acquiring” BMLG.

In November, it was reported that owner Scott Borchetta has been approached by a third party the sell the label, but decided to “test the waters” to see what offers he could get if he decides to sell. The $225-$250 million evaluation Borchetta is seeking is contingent on the label’s centerpiece, Taylor Swift’s, status at the label, which her family owns equity.

Swift only has one more album on her contract as well as a greatest hits package which she is obligated to include new music, and Big Machine’s distribution deal with Universal Music Group, the largest record label in the world, has expired.

The alleged deal would include Swift’s catalog and the next album.

BMLG operates five labels — Big Machine Records, Valory Music Co, Republic Nashville, Dot Records and the newly launched Nash Icon Records in partnership with Cumulus Media — with superstar acts such as Rascal Flatts, The Band Perry, Reba McEntire, Martina McBride, Ronnie Dunn, Florida Georgia Line, Tim McGraw, Maddie & Tae and many more on their roster along with Swift.

An iTunes spokesperson has reportedly denied the reports which is usual for such an acquisition of this magnitude.

No word on what impact, if any, the deal could have with the label’s artists. We will keep you informed.

Author: Buddy Iahn

Buddy Iahn founded The Music Universe when he decided to juxtapose his love of web design and music. As a lifelong drummer, he decided to take a hiatus from playing music to report it. The website began as a fun project in 2013 to one of the top independent news sites.