Bruce Springsteen has sold the rights to his music catalog to Sony Music Entertainment for a value that could be north of $500 million, according to The New York Times, citing sources briefed on the deal.
The deal would be the largest ever transaction for a single artist’s catalog, according to the Times, and would include his work as both a singer and songwriter.
Billboard was the first to report the sale.
One of the premier rock artists of all time, Springsteen is responsible for such hits as “Born in the USA,” “Dancing in the Dark” and “Born to Run.” He and the E Street Band, who he has played with for decades, have been inducted into the Rock and Roll Hall of Fame.
Springsteen’s latest album, “Letter to You,” was released in October 2020.
Springsteen reopened Broadway in June with his “Springsteen on Broadway” performances after Covid-19 restrictions halted full-capacity shows for more than a year.
CNN has reached out to representatives for Springsteen and Sony for comment.
source: cnn.com