Big Machine/Snapchat merger falls apart over asking price

Written By Unknown on Jumat, 27 Februari 2015 | 10.46

Taylor Swift and Evan Spiegel are not getting back together — not even professionally.

The Post reported exclusively that Snapchat CEO Spiegel was talking to Swift's record label, Big Machine, about a possible $350 million purchase. But the talks with Big Machine owner Scott Borchetta fell apart over price, according to a source.

"It's just about the money," the source, a music exec, said. "Scott wants too much."

Apparently, the pop princess wasn't keen on the idea either. "Taylor doesn't want it to happen," said another music insider.

Swift was rumored to have briefly dated the 24-year-old Snapchat co-founder in December 2013, although her camp claims they were never really an item.

Another source close to the singer also downplayed her influence over the label's ownership, saying, "She learns about the [sale] talks in the press."

Still, Swift is eager for Big Machine to decide its fate since she will need to make a decision about whether to stay with the label or move on after her next album.

Under her contract, Swift owes one more record to the label that helped her grow from a Nashville country artist into the most powerful force in pop music.

Her family also owns a stake in the label, which has a distribution partnership with Universal Music.

Meanwhile, Borchetta is becoming a celebrity in his own right, popping up as a music mentor on "American Idol," for instance. He has signed with CAA, which will represent him in film, TV and theater.

Snapchat is also emerging as a force in the music world, boosting sales of such artists as Cash Cash and Charli XCX via its Discover platform, where users can watch music and video clips.


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