NEW YORK (CelebrityAccess) — Following the news of Sony’s big-ticket acquisition of the rights to the music of Bruce Springsteen, the music publisher revealed additional details about the deal, including their partners.
According to Sony Music Publishing, they struck not one, but two deals with Springsteen to acquire not only his entire songwriting catalog but also his rights to his recorded music catalog as well.
The two agreements cover the recorded music and music publishing rights to all of Springsteen’s songs, including “Born to Run,” “Born In The USA” “Dancing in the Dark” “Glory Days,” “The River,” “Hungry Heart,” “Brilliant Disguise” and “I’m On Fire,” among many others.
For the Boss’s songwriting catalog, Sony partnered with investment group Eldridge Industries on the acquisition. Elridge, and investment firm based in Greenwich, Connecticut, owns multiple entertainment-facing businesses, including P-MRC, the company behind Variety, Billboard, Rolling Stone, and Music Business Worldwide, as well live entertainment properties such as Dick Clark’s Rockin’ Eve with Ryan Seacrest, and the American Music Awards. Eldridge also owns a stake in catalog from other artists, including The Killers.
Sony still has not revealed how much they paid for the catalog acquisitions, but Billboard reported that sources indicated the price tag was north of $500 million.
Springsteen first signed with Columbia for the release of his 1973 debut album “Greetings from Asbury Park, N.J.” and has remained with the label throughout his career. Sony acquired CBS Records, which included Columbia Records, from EMI in 1988.
“I am one artist who can truly say that when I signed with Columbia Records in 1972, I came to the right place. During the last 50 years, the men and women of Sony Music have treated me with the greatest respect as an artist and as a person. I’m thrilled that my legacy will continue to be cared for by the Company and people I know and trust,” Springsteen said.