Sony Music Entertainment said on Monday it has acquired Bob Dylan's catalog of recorded music, including his performances of such popular songs as "Blowin' in the Wind" and "Knockin' on Heaven's Door," as well as the rights to future releases.
Reuters reports the deal is the latest in Sony Music's six-decade relationship with the artist, and covers Dylan's body of work since 1962. Variety cited sources who valued the deal at $150 million to $200 million.
Dylan, 80, sold his songwriting catalog to Universal Music Publishing Group in December for a reported $300 million. He was among a group of aging artists, including Neil Young, Stevie Nicks and Paul Simon, have sold the rights to their compositions to investors, who seek to capitalize on the opportunities created by music streaming.
Sony and Dylan said they will collaborate on future catalog reissues in the artist's Bootleg Series, which began in 1991 and includes 14 releases through last year's lauded "Springtime In New York: The Bootleg Series Vol. 16 (1980-1985)."
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