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Braun Buys BMLG

Big Machine Label Group has been purchased for more than $300 million by Scooter Braun's Ithaca Holdings, according to the Wall Street Journal. President/CEO Scott Borchetta is expected to stay with the company in that role and will have a seat on Ithaca's board, according to the report. Founded Aug. 31, 2005 by Borchetta, Big Machine grew from a roster of three – Jack Ingram, Danielle Peck and Taylor Swift – into a group with three promotion staffs, dozens of employees and the world's biggest music star – Swift, who departed for Universal late last year. Read the WSJ report here