What Does Bruce Springsteen's $500 Million Music-Rights Deal Really Mean?
Bruce Springsteen knows how to play the long game. The rock star pulled every available trick out of his sleeves to get out of a bad record deal and gain full control of his music in 1992. This week, he sold those rights back to the same label, hitting Sony (NYSE: SONY) up for $500 million three decades later.
The lifelong Boss fan in me is unhappy about this unexpected move, but the business analyst inside my head has to respect Springsteen's decision. This catalog deal is a sign of the times, and Bruce is smart to cash in his chips while they're hot.
Image source: Getty Images.
Source Fool.com
