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Benzinga
Benzinga
Business
Anusuya Lahiri

Sony Scoops Bruce Springsteen's Catalog For $500M: Report

  • Sony Group Corp (NYSE:SONY) acquired Bruce Springsteen's master recordings and music publishing rights in a deal worth $500 million, Billboard reports. 
  • Bruce Springsteen sold his masters and music publishing to Sony Music and Sony Music Publishing. 
  • The floor price for the combined assets was $350 million. 
  • The New Jersey musician's catalog includes more than 300 songs, 20 studio albums, and other items. 
  • It also includes early recordings to which Springsteen acquired the rights in the 1980s after releasing his highly successful "Born in the USA" album.
  • Price Action: SONY shares closed higher by 2.69% at $123.85 on Wednesday.
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