And here you have it:
NEW YORK – December 16, 2021 – Sony Music Group today announced it has acquired Bruce Springsteen’s entire recorded music and songwriting catalogs through separate agreements. 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. Sony Music Publishing partnered with Eldridge on the songwriting catalog purchase.
And the news release goes on from there, including a quote from Springsteen: “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.”
A few things.
First know that Springsteen is 72 years old, and according to the Social Security Administration, a 72-year-old has a life expectancy of 13.25 years.
It is reported that the purchase is on the order of $550 million. Presumably, that would be liable to the 37% federal tax rate, which would leave him with $346,500,000.
Serious walking around money.