- Sony Group Corp 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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