Why Taylor Swift bought back her masters: The Scoop | Morning in America

You know what time it is. It's time now for some of the biggest trending stories. Reports surfacing that Hailey Bieber might be helping her husband Justin Bieber after making a blockbuster beauty deal. Plus we're diving into the news that Taylor Swift bought back the rights to her masters. Who else better to explain than News Nation entertainment expert Paula Froelich who's here with The Scoop. Hello friend. Hello. We have to talk about Taylor Swift. Everyone's talking about her. She bought back her first six albums. Catch me up here. Well she bought it back actually for a discount. Oh yeah this is interesting. So everyone or I'm sorry all the Swifties remember when Scooter Braun bought her catalog from Big Machine and he bought it for 300 million and she was furious. She was like wait a minute. I want this. Now Scooter's side of the story was that her father Scott Swift had been aware of the deal and could have stepped in. They just didn't. Anyway the big thing is Taylor basically devalued that entire catalog by re-releasing every single big song in Taylor's version. So you know she kind of said fine you can buy it. It's worth nothing now because my fans are not going to go for it. They're going to go for my version. She was correct. However they did make some money. He ended up selling it to someone else and it was just kind of how do I put this hilarious because they Shamrock Media which bought it thought they were like hey we've got Taylor's version and guess what it's not really worth that much. They ended up selling it back to her for 200 to 300 million at a loss and the thing is why she wanted it so badly and it all goes back to Michael Jackson and Paul McCartney okay. Michael Jackson and Paul McCartney were friends. Michael bought the Beatles rights out from under Paul and then for years you had Beatles songs on car ads you had it on coffee everywhere right everything and he was furious and Taylor does not want her stuff owned by someone else so that she can see her songs on a dress ad. But now that she has her masters will she still come out with Taylor's versions? I think she has two more albums to remake. You know I think she will. There was also some talk about reformation and reputation sorry about how she might do this but you know now and redo it there were some things she didn't like all this stuff but now she's saying no I don't know I own it now so I don't know if I need to go back and good for her you know what she needs to do is she needs to focus on her own life not doing much right now and yeah you know she also was very excited she said in part I almost stopped thinking this could ever happen after 20 years of having the carrot dangled then yanked away I've been bursting into tears of joy at random intervals ever since I found out this is really happening all I ever wanted was the opportunity to work hard enough to be able to purchase my music outright with no strings attached no partnership with full autonomy for her yeah might not own the things that you created absolutely shocking idea and Paula last week you reported that Justin Bieber was having a lot of financial difficulty yeah well it seems like his wife Haley Bieber might be stepping in to save him oh she did she did save him so first of all you know it's most people know by now that she sold her company road to elf cosmetics for 1 billion with a 200 million bonus structure which is pretty amazing and it comes at a great time you have Justin who's kind of flailing yeah financially he's a mess he owes Scooter Braun his former manager the guy who we just discussed with Taylor Swift he owes Scooter Braun over 8.8 million dollars and just for management fees but he also owes him 40 million dollars because when he canceled his 2022 tour he left and Scooter had to cover the 40 million dollar fee and Scooter at one point was like I don't care man you can just pay me back monthly he's did one payment and then done all right Paula Froelich always bringing us the information that we need Paula Froelich thank you and be sure to subscribe to the scoop newsletter for the biggest stories in entertainment she breaks a lot of news on that newsletter make sure to get it thank you for watching subscribe below and download our news nation app right now on your phone and you will get fact-based unbiased news for all americans