Scooter Braun has announced a multi-million dollar investment deal from Universal Music Group to distribute his Schoolboy Records releases.
In turn, the Bieber/Jepsen/Wanted bigwig will act as 'creative consultant' to UMG's chairman Lucian Grainge with an office reportedly on the same corridor.
Scoot described Universal as "an amazing company with amazing resources" (loads of cash) in a statement published by The Hollywood Reporter. Grainge seemed to see Braun as something of a new Simon Cowell, praising him as "among the very best in the next generation of entertainment executives".
That sentiment was apparently supported by Braun's other new role as first 'entrepreneur in residence' at Universal's Global Creative Investment Program — an initiative to find multimedia partnerships with 'tech-centric' companies in the music space.