Bruce Springsteen has sold his master recordings and music publishing rights to Sony Music in a deal reported to be worth around $500 million U.S.
According to Billboard, it may be the biggest deal in music for an individual body of work.
Springsteen follows acts like Bob Dylan, Tina Turner and Mötley Crüe in selling rights. Canada’s Neil Young and Belly each sold a 50 percent stake in their catalogues this year.
Billboard estimated that Springsteen’s catalogue grossed about $15 million (all figures U.S.) last year and his publishing generates about $7.5 million a year.
Reps for Sony Music and Springsteen have not commented on the reported deal.