Big Machine Label Group CEO/founder Scott Borchetta is departing HYBE America five years after HYBE’s purchase of Ithaca Holdings in 2021 for $1.05 billion. Ithaca Holdings purchased Big Machine Label Group in 2019 for an estimated $300 million.
HYBE will retain assets of Big Machine Label Group, including distribution, the publishing company Big Machine Music and a number of talent currently on the label’s roster including Thomas Rhett, Brett Young, Midland, Justin Moore, Carly Pearce, Preston Cooper, Jackson Dean and Mae Estes. It is expected to announce a new label name and leadership in coming days.
Borchetta, who founded Big Machine Label Group in 2005, has reacquired the Big Machine Records brand and is expected to relaunch the label.
“Scott has made a lasting mark on the music industry with his sharp eye for talent and his unique vision,” said Isaac Lee, chairman/CEO of HYBE AMERICA in a statement. “He recently approached us to ask for our support as he works to pursue a new, independent and entrepreneurial stage of his career, working to advance the Big Machine brand separately from HYBE. While we are sad to see Scott go, we understand – and want him to pursue his passions and are grateful for all he did for the company… HYBE AMERICA will continue to support our artists’ interests across music, film, television, brands and culture in the U.S. market and beyond,” said Lee. “We are beyond excited for our future in Nashville and will make further announcements in due course.”
“I am incredibly appreciative of my partnership with HYBE over these last five years,” Borchetta added. “[HYBE’s] Chairman Bang often talks of his fondness for entrepreneurs and he, Isaac, and the HYBE leadership team have extended that belief with this incredible showing of support by allowing me to continue to build upon my vision of the Big Machine Records brand. For that, I am forever grateful and wish them nothing but continued and incredible global success.”
The staff was told in a town hall meeting, which took place Thursday afternoon.
Borchetta started BMLG in September 2005 as a sister label to Toby Keith’s Show Dog Nashville (while that partnership dissolved six months later, Keith held equity in BMLG until 2019). In addition to Swift, who was the first signing, the artists roster over the 20 years has included Reba McEntire, Thomas Rhett, Garth Brooks, Tim McGraw, Florida Georgia Line, Rascal Flatts, Mötley Crüe, Dolly Parton, Carly Pearce and Riley Green.
BMLG currently operates five imprints: Big Machine Records, The Valory Music Co., Nashville Harbor Records & Entertainment, Ascend Music and Big Machine Rock (which HYBE sold to Gebbia Media in May, but the imprint remains under Borchetta’s remit). In 2012, the label group launched publishing company Big Machine Music, which includes such powerhouse writers as Jessie Jo Dillon (George Strait, Maren Morris) and Laura Veltz (McEntire, Kane Brown).
The 2019 Ithaca deal included Swift’s catalog, which then sold to Shamrock Capital in 2020. Swift bought her catalog, which included her first six albums, from Shamrock in 2025.
This is a developing story…
