Sony Scoops Bruce Springsteen's Catalog For $500M: Report

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.

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