Kanye West may have a little more in common with Taylor Swift than he initially thought as he has come out with claims that his publishing catalogue is being put up for sale without his approval, involvement or even awareness.
Earlier this week, Billboard reported that Kanye was quietly and intermittently shopping his publishing catalogue, and that representatives for the rapper had met privately with prospective buyers to explore what kind of valuation his extensive discography could be worth.
It’s said that Kanye is eying a valuation as high as thirty-five times that of the net publisher’s share, which is around one hundred and seventy-five million dollars, based on the estimation that the catalogue earns him five million dollars of annual revenue.
The rapper however took to his Instagram Story to deny his reported involvement in the potential sale. He wrote, “Just like Taylor Swift. My publishing is being put up for my sale without my knowledge. Not for sale.”
Just so you know, Kanye is referring to the 2019 sale of Taylor Swift’s material released between 2006 to 2017, which was acquired by Scooter Braun with whom she had long feuded when he purchased her former label, Big Machine Records for three hundred and thirty million dollars.
That sale was enormously controversial, with Swift herself describing it as her “worst case scenario” which led her to re-record two of the albums she no longer owns the original masters to.
Now the rights to West’s catalogue currently lies with Sony Music Publishing. According to Billboard, the company has slowed down their efforts to test the market for [West’s] catalogue in recent months.
Doing so indicates one of three things, that the rapper’s team have secured a prospective bidder, have failed to generate interest in the sale due to its exorbitant asking price, or had potentially never actually shopped it to begin with.
Kanye now appears adamant that the lattermost scenario is the case. In a follow-up to his initial Instagram Story post, he shared a text exchange between himself and a member of his team, who told him that his former manager Gee Roberson called the report “fake news”. The unnamed team member noted that “of course every publisher wants to pitch their hardest to buy”.
#Esplash || September 22nd, 2022
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