The Braun-Swift blowout originated when the 29-year-old pop star called out the talent manager for purchasing her former label, Big Machine Records, for a reported $300 million. By purchasing the label, Braun's Ithaca Holdings obtained ownership of a majority of Swift's master recordings. The deal upset Swift because, she claimed, Braun had been "bullying" her for years.
According to the source, Braun reached out to Swift through mutual friends on Monday morning to explain the Big Machine Records business deal to her. Braun, the source says, wanted to clear the air privately, but he has not heard back from Swift to talk it out.
ET has reached out to Swift's rep for comment.
In her Tumblr post following the announcement of the deal, Swift explained her side of the story, calling out both Braun and the label's former head, Scott Borchetta.
"For years I asked, pleaded for a chance to own my work. Instead I was given an opportunity to sign back up to Big Machine Records and 'earn' one album back at a time, one for every new one I turned in," Swift wrote. "I walked away because I knew once I signed that contract, Scott Borchetta would sell the label, thereby selling me and my future. I had to make the excruciating choice to leave behind my past. Music I wrote on my bedroom floor and videos I dreamed up and paid for from the money I earned playing in bars, then clubs, then arenas, then stadiums."
The "You Need to Calm Down" singer continued on, claiming that she learned of the deal as it was "announced to the world" on Sunday.
"All I could think about was the incessant, manipulative bullying I've received at his hands for years," she wrote of Braun. "Now Scooter has stripped me of my life's work, that I wasn't given an opportunity to buy. Essentially, my musical legacy is about to lie in the hands of someone who tried to dismantle it."
After Swift's post, Borchetta released a statement of his own "to set some things straight," claiming that Swift misrepresented the truth and was notified, through her father, Scott Swift, of the sale days before it was made public. Additionally, Borchetta said he personally texted Swift to let her know about the sale on Saturday.
A spokesperson for Swift refuted Borchetta's claims on Monday in a statement.
"Scott Swift is not on the board of directors and has never been. On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty," Swift's spokesperson said. "Her dad did not join that call because he did not want to be required to withhold any information from his own daughter."
"Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta and he did not call her in advance," the statement continued.