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I started hearing this last week, but the drums are pounding louder as Scooter Braun is in the initial talks to sell his business, Ithaca, to former Disney and Tiktok honcho Kevin Mayer, who has the backing of Blackstone. This is one of three offers under development.
Braun is the record manager, director of Ariana Grande, Justin Bieber and others, and chairman of Ithaca Holdings. He is also co-founder of TQ Ventures, Mythos Studios and co-owner of the 100 Thieves esports team.
Sources said the goal would be to use those assets to form the basis for building a large business by Mayer, who left Disney after being transferred to replace Bob Iger in favor of Bob Chapek. Mayer had a brief stint at the top of the social media platform Tiktok and more recently he partnered with Tom Staggs to form Forest Road Acquisition Corp, the publicly traded company that just folded its vehicle from $ 300 million investment in Beachbody, a home health and fitness company. and Myx Fitness Holdings. This was done through a SPAAC, so a possible deal for Braun’s stake would not be part of that, it would be a Blackstone-backed acquisition. Mayer is well regarded and the prospect of seeing him bring together assets to start a business could be exciting.
Braun’s talks are still in their infancy, and Mayer (who didn’t return an email last week) was researching a number of opportunities before landing on Beachbody. But they are talking. Braun was in the press recently to buy Big Machine, which included Taylor Swift’s song catalog, and then sell it to Shamrock for $ 300 million, sparking a controversial clash with the superstar singer. Stay tuned.
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