On Monday, 7 December, Universal Music Publishing Group announced that it had signed a deal to purchase Bob Dylan's entire songwriting catalog in what may be the biggest acquisition of the music publishing rights of a single act, as per a report by The New York Times.
The catalog consists of the legendary singer-songwriter's classics such as 'Blowin’ in the Wind', 'The Times They Are A-Changin’' and 'Like a Rolling Stone'.
79-year-old Dylan has, for the longest time, controlled the majority of his own songwriting copyrights, and the deal was reportedly struck directly with him. From his earliest songs to the tunes on his latest album, 'Rough and Rowdy Ways', the deal encompasses Bob Dylan's entire career. The price has not been disclosed, but is estimated at more than $300 million, The New York Times reported.
“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,” Lucian Grainge, the chief executive of the Universal Music Group, said in a statement.
Bob Dylan's spokesperson said that the musician does not wish to comment on it.
The deal with Universal does not include any songs Dylan writes in future, keeping open the possibility that he can choose to work with another publisher.
Last week, Stevie Nicks sold a majority stake in her songwriting catalog for an estimated $80 million to Primary Wave Music, an independent publisher.
(With inputs from The New York Times)
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