Bruce Springsteen Sells His Music to Sony Music Group

The Boss unloaded his recorded music and songwriting catalog for over $500 million with some financial backing from Eldridge Industries

The deal for Mr. Springsteen’s music represents the largest transaction ever for the life’s work of an individual artist.

Photo: Greg Allen/Associated Press
By

Anne Steele

and

Neil Shah

Bruce Springsteen sold his music rights to Sony Music Group for between $500 million and $600 million in a deal representing the largest transaction ever for the life’s work of an individual artist, according to people familiar with the matter.

Various financial players looked at backing the transaction, according to people familiar with the deal, with private investment firm Eldridge Industries LLC putting up a portion of the funds for part of the deal, yet another financial player to make a big move in the frothy market for music copyrights. Sony Music Group is a division of Japanese conglomerate Sony Group Corp.

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