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Bruce Springsteen has reportedly sold his catalogue to Sony for $500 million (£375 million).
According to editors at Billboard, the 72-year-old musician has sold his masters and publishing catalogue to bosses at Sony, with the deal described as “the biggest deal in music for an individual body of work”.
Since November, the Born in the USA hitmaker had been looking to sell his back catalogue to either Universal Music Group or Sony, which owns Columbia Records – whom he has been with since the early days of his career.
Springsteen was given ownership over his work several decades ago as an incentive to stay with the recording company.
In an estimation by Billboard, the 20-time Grammy winner’s catalogue averages at $12 million in sales per year and $7.5 million in publishing.
Neither the artist nor the company executives have commented on the purchase.