Bob Dylan's Entire Music Catalog Sold for Estimated $200 MillionThe deal with Sony Music Entertainment was rumored to be locked in last summer but was not publicly announced until this week.

Sony Music Group has long been an entertainment industry giant that has continued to purchase and gain ownership over major music catalogs.

Just last month, the company purchased the entirety ofBruce Springsteen's catalogfor a reported $500 million, with its sights set on ownership over another musical legend's work — Bob Dylan.

According to a news release, Sony Musichas purchasedDylan's entire back catalog of recorded music beginning with his 1962 debut self-titled album as well as rights to future projects in a deal thatcost an estimated $150 to $200 million.

The deal was originally made in July 2021 amid rumblings but was not made publicly official until Sony's announcement on Monday.

Related:Bruce Springsteen to Sell Catalog for $500 Million in Biggest Transaction for an Artist Ever

Sony Music Entertainment owns Columbia Records, which first signed Dylan in 1961, with this year marking the artist's 60th anniversary.

"Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records," Bob Dylan said ina statement. "I'm glad that all my recordings can stay where they belong."

Amassed in his career, Dylan has sold over 125 million records worldwide, including 39 studio albums and 15 live albums.

He is also the 2016 recipient of the Nobel Prize for Literature for his songwriting abilities and influence.

The landmark deal with SME will also see Dylan working with the company to work on future catalog reissues on Dylan's beloved Bootleg Series.

"Columbia Records has had a special relationship with Bob Dylan from the beginning of his career and we are tremendously proud and excited to be continuing to grow and evolve our ongoing 60-year partnership. Bob is one of music's greatest icons and an artist of unrivaled genius," Sony Music Group chairmanRob Stringer said. "The essential impact he and his recordings continue to have on popular culture is second to none and we're thrilled he will now be a permanent member of the Sony Music family."

Prior to the deal with SME, Dylan sold his songwriting catalog (aka his masters) to Universal Music Publishing Group in December 2020, a deal that costa reported$250 to $300 million.