Bruce Springsteen sells his music catalogue in $500-m deal: Report

Bruce Springsteen has sold his music rights to Sony Music Entertainment in what may well be the biggest transaction ever struck for a single artist's body of work, according to two people briefed on the deal. No public announcement has been made about the transaction, which closed in recent weeks, and specific terms were unknown. But its value may exceed $500 million, according to the two people, who spoke anonymously because they were not authorised to discuss the matter.
Representatives for Sony and Springsteen declined to comment. The arrangement, which has been gossiped about in industry circles for weeks, includes both Springsteen's recorded music catalog and his body of work as a songwriter. It will give Sony ownership of Springsteen's complete collection of classic songs such as "Born to Run," "Born in the USA" and "Blinded by the Light."
It is the latest and biggest mega-deal in what has been a frothy couple of years in which investors, major music companies and private equity firms - lured by the rise of streaming and a promise of growing music revenues for years to come - have poured billions of dollars into buying song catalogs. Bob Dylan, Paul Simon, Stevie Nicks, Shakira, Neil Young and many other stars have sold all or parts of their work for prices reaching into the hundreds of millions.