No, music publishing and masters don't always go hand in hand. That's not how it works.
In fact, many songwriters and performing artists in the music business don't even own their masters even though they might have written the songs themselves.
This is because by default a huge majority of record labels will not sign and finance new recording artists without making sure they will get to own the final master recording or what is known as the sound recording copyright!
Anyone with basic common sense would know nobody forced Taylor Swift to sell rights to her early music, she did so willingly and got a big payday for it which also helped her establish a career in the music business.