Bob Dylan announced his master recordings will be staying "where they belong" after he sold the catalog to Sony Music Entertainment’s Columbia Records.
The 11-time Grammy winner, 80, has been with Columbia for six decades. The deal, which was struck with the record company last summer, had finally closed in July 2021, according to Rolling Stone.
"Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records," Dylan said of the catalog, which sold for an undisclosed amount. "I'm glad that all my recordings can stay where they belong."
Meanwhile, Variety reports the deal was worth between $150 million and $200 million.
Rob Stringer, chairman of Sony Music Group, said in a statement that the company "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" with Dylan, according to People magazine.
Added Stringer: "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. We are excited to work with Bob and his team to find new ways to make his music available to his many fans today and to future generations."
It was just in December when Dylan sold the entirety of his publishing rights to Universal Music Group for an estimated $300 million. The acquired catalog includes tunes that date back to the 1960s.
While Dylan has yet to announce plans on another album release, he is set to kick off the next leg of his "Rough and Rowdy Ways Tour," which resumes March 3 in Phoenix, Arizona, and runs through 2024.