Universal Music Publishing Group have reached a historic deal to buy legendary singer-songwriter Bob Dylan’s entire catalogue.
The rights of more than 600 copyrights are included in the landmark agreement.
“To represent the body of work of one of the greatest songwriters of all time, whose cultural importance can’t be overstated, is both a privilege and a responsibility,” UMPG Chair Jody Gerson said in a statement last night.
Universal Music Group’s chief executive Sir Lucian Grainge said it was “with enormous pride” to welcome Dylan into the Universal family.
“It’s no secret that the art of songwriting is the fundamental key to all great music, nor is it a secret that Bob is one of the very greatest practitioners of that art,” he said.
Dylan has sold more than 125 million records worldwide since his self-titled debut album was released in 1962.
The New York Times reported the deal was worth an estimated $405 million “in what may be the biggest acquisition ever of the music publishing rights of a single act.”