- Universal Music Publishing Group has reportedly purchased Bob Dylan's entire songwriting catalogue which includes more than 600 songs.
- While the cost of the acquisition was not made public, the New York Times says the catalogue has an estimated value of $300 million (R4.5 billion).
- Bob Dylan is known the world over as an iconic singer/songwriter, earning the Nobel prize in literature in 2016.
In what is being referred to as possibly the largest music acquisition to date of an individual artist's publishing rights, Universal Music Publishing Group has reportedly purchased Bob Dylan's entire songwriting catalogue which includes more than 600 songs.
Universal Music announced on Monday that they had signed a deal with the legendary singer, acquiring songs from the beginning of his career all the way to his latest album, Rough and Rowdy Ways, the New York Times reports.
While the cost of the acquisition was not made public, the publication says its value is estimated at more than $300 million (R4.5 billion).
According to Variety, a source revealed that "the deal was easily nine figures [in dollars]".
Bob Dylan is known the world over as an iconic singer/songwriter, with hits like Blown' in the Wind, Like A Rolling Stone and Tangled Up in Blue to his name.
In 2016, the 79-year-old won the Nobel prize in literature.
According to The Guardian, Bob Dylan has sold more than 125 million records worldwide, and his songs have been covered over 6000 times by other artists.
"It's no secret that that the art of songwriting is the fundamental key to all great music," the publication quoted a statement from Universal Music chief executive, Sir Lucian Grainge. "Nor is it a secret that Bob is one of the very greatest practitioners of that art," he continued.
"To represent the body of work of one of the greatest songwriters of all time, whose cultural importance cannot be overstated, is both a privilege and a responsibility," added Jody Gerson, the chief executive of Universal Music Publishing Group (UMPG).
Compiled by Nikita Coetzee