Universal Music Publishing Group announced early Monday it has acquired the rights to all of Bob Dylan’s music in a deal that, according to reports, could be the biggest of its kind.
“To represent the body of work of one of the greatest songwriters of all time — whose cultural importance can’t be overstated — is both a privilege and a responsibility,” said company executive Jody Gerson, in a statement.
The deal, estimated to be worth between $200 million and $300 million U.S., includes the more than 600 Dylan songs, which have been recorded more than 6,000 times by artists around the world. The 79-year-old has until now owned most of the rights to his music.
Universal's acquisition also includes Dylan’s share in “The Weight,” a song written by Canada’s Robbie Robertson and recorded by The Band.
Dylan, who has not commented on the sale of his catalogue, was awarded the Nobel Prize in Literature in 2016 for “having created new poetic expressions within the great American song tradition.”
Universal Music Group’s chairman and CEO Lucian Grainge said, in a statement: “It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of people all around the world.
“I have no doubt that decades, even centuries from now, the words and music of Bob Dylan will continue to be sung and played — and cherished — everywhere."