Bob Dylan has sold his master recordings catalog to Sony Music Entertainment's Columbia Records, the company announced Monday.
The 11-time Grammy winner has been with Columbia Records for six decades and struck a deal with the record company last summer. It was finally closed in July 2021, according to Variety, which notes that the agreement comprises all of Dylan's recorded body of work since 1962.
Sources speaking with the outlet say that the deal was worth between $150 million and $200 million. The number is yet to be confirmed.
"Columbia Records has had a special relationship with Bob Dylan from the beginning of his career and we are tremendously proud and excited to be continuing to grow and evolve our ongoing 60-year partnership," Sony Music Entertainment CEO Rob Stringer said in a statement to Rolling Stone.
"Bob is one of music’s greatest icons and an artist of unrivaled genius," he added. "The essential impact he and his recordings continue to have on popular culture is second to none and we’re thrilled he will now be a permanent member of the Sony Music family. We are excited to work with Bob and his team to find new ways to make his music available to his many fans today and to future generations."
Last year Dylan sold his publishing rights to Universal Music Group for over $300 million. As Rolling Stone points out, all songs have two copyrights— recorded rights which refer to specific recordings, which include the master tracks, and publishing rights, which comprise the song’s composition such as music and lyrics.
Commenting on the latest deal with Columbia Records, Dylan praised the label for its continued support over the years.
"Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records," Dylan said. "I'm glad that all my recordings can stay where they belong."
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