I started hearing last week but the drums are beating louder that Scooter Braun is in early talks to sell his Ithaca business to former Disney and Tiktok honcho Kevin Mayer, who is backed by Blackstone. This is one of three offers that are being considered.
Braun is the record manager, manager of Ariana Grande, Justin Bieber and others, and chairman of Ithaca Holdings. He is also the 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 as the foundation for building a large company owned by Mayer, who left Disney after its handover to replace Bob Iger in favor of Bob Chapek. Mayer served briefly on the Tiktok social media platform and most recently teamed up with Tom Staggs to create Forest Road Acquisition Corp, the publicly traded company that is currently running its $ 300 million investment vehicle in Beachbody, a healthcare and Home fitness company, has merged and Myx Fitness Holdings. This was done through a SPAAC, so a possible deal for Braun’s stake would not be part of it, but a Blackstone-backed acquisition. Mayer is highly regarded and the prospect of him putting assets together to build a company could be exciting.
The Braun talks are still in the early stages, and Mayer (who didn’t return an email last week) looked at a number of options before landing on Beachbody. But they talk. Braun was last in the press to buy Big Machine, which included Taylor Swift’s song catalog, and then sell it to Shamrock for $ 300 million, leading to a controversial conflict with the superstar singer. Stay tuned.