On Thursday, Sony Music confirmed the acquisition, noting that the deals for the recorded music and publishing rights are separate although neither Sony nor Springsteen's representatives provided further details regarding the financial aspect.
t№6 "I am an artist that I can truly say that when I signed with Columbia Records in 1972, I came to the right place. Over the last 50 years, the men and women of Sony Music have treated me with the utmost respect as an artist and as a human being. I am thrilled that my legacy will continue to be cared for by the company and the people I know and trust," the legendary rock artist said in a statement.t№8 A well-informed source told Variety that the deal was actually closer to $600 million. When news of the negotiations first broke early last month, sources said that the initial amount requested by Springsteen's side was around $350 million for both publishing rights and recorded masters catalogs. However, several experts say that a fierce bidding war for publishing rights broke out between Universal and Sony, the latter determined not to lose Springsteen's catalogue as it had already lost Dylan to UMPG.
t№10 The deal gives Sony ownership of Bruce Springsteen's 20 albums, including classic hits such as "Born To Run", "The River" and "Born In The USA".t№12 Springsteen's music generated around $15 million in revenue last year.
t№14 Source: APE-MPAContents of this article including associated images are belongsCyprus Times
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