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Bob Dylan made headlines today (December 7) with the sale of his entire songwriting catalog to Universal Music Publishing Group.

Per multiple outlets including The New York Times and The Hollywood Reporter, Dylan’s entire catalog includes over 600 songs. The sale is being seen as one of the biggest music publishing rights acquisitions of a single artist in history.

The New York Times notes, “The price was not disclosed, but is estimated at more than $300 million.”

In a statement on the deal, Universal Music Publishing Group CEO Jody Gerson said, “To represent the body of work of one of the greatest songwriters of all time – whose cultural importance can’t be overstated – is both a privilege and a responsibility. We look forward to working with Bob and the team in ensuring his artistry continues to reach and inspire generations of fans, recording artists and songwriters around the world.”

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Universal Music Group CEO Lucian Grainge added, “As someone who began his career in music publishing, it is with enormous pride that today we welcome Bob Dylan to the UMG family. It’s no secret that the art of songwriting is the fundamental key to all great music, nor is it a secret that Bob is one of the very greatest practitioners of that art. Brilliant and moving, inspiring and beautiful, insightful and provocative, his songs are timeless—whether they were written more than half a century ago or yesterday.”

Grainge continued, “It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of people all around the world. I have no doubt that decades, even centuries from now, the words and music of Bob Dylan will continue to be sung and played — and cherished — everywhere.”

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Erica Banas is a rock/classic rock news blogger who's well versed in etiquette and extraordinarily nice.