Scooter Braun’s Ithaca Holdings has agreed to acquire Scott Borchetta’s Big Machine Label Group in a blockbuster deal backed by the Carlyle Group.

Terms of the agreement were not disclosed, but a source told Billboard the deal topped $300 million and also includes the music publishing operation, Big Machine Music. When completed, the deal will create yet another independent music company powerhouse with multiple capabilities and income streams through the Big Machine record label operations and School Boy Records, the recently acquired Atlas Music Publishing and the to be acquired Big Machine Music, and SB Projects, the artist management and services company.

The deal also brings together two powerful music industry executives, who are each as much forces of nature as they are successful entrepreneurs.