Began hearing this last week, but the drums are beating louder that Scooter Braun is in early discussions to sell his business, Ithaca, to former Disney and Tiktok honcho Kevin Mayer, who has backing through Blackstone. This is one of three offers being mulled.
Braun is the record exec, manager of Ariana Grande, Justin Bieber and others, and chairman of Ithaca Holdings. He’s also the co-founder of TQ Ventures, Mythos Studios and co-owner of esports team 100 Thieves.
Sources said that the goal would be to use those assets to form the basis for building a big company by Mayer, who left Disney after being passed over to replace Bob Iger in favor of Bob Chapek. Mayer had a brief stint atop the social media platform Tiktok and most recently he has teamed with Tom Staggs to form Forest Road Acquisition Corp, the publicly traded company that just folded their $300 million investment vehicle into Beachbody, an at-home health and fitness company and Myx Fitness Holdings. That was done through a SPAAC, so a possible deal for Braun’s holding would not be part of that, it would be Blackstone-backed acquisition. Mayer is very highly regarded, and the prospect of him piecing together assets to build a company could be exciting.
The Braun talks are early stages, and Mayer (who did not return an email last week) was looking at a number of opportunities before landing on Beachbody. But they are talking. Braun has most recently been in the press for buying Big Machine, which included the song catalogue of Taylor Swift and then selling it to Shamrock for $300 million, causing a contentious clash with the superstar singer. Stay tuned.