Sony is in negotiations to purchase Bruce Springsteen's recorded-music catalog, three decades after he won it back from the major label.
By averaging the last three years of financial statistics from the Springsteen catalog -- a common strategy used in determining valuations --estimates the Springsteen master recording catalog averaged about $12 million in sales. After deducting production and distribution costs of 20% of revenue,estimates the Springsteen catalog produced a gross profit of $9.6 million.
In any event, sources say the Springsteen camp was very selective about who they shopped his rights to and, in fact, some suggest that big private equity firms might have been approached so they could be used as a stalking horse in obtaining the desired pricing target from Sony. All told, if Springsteen is selling all of his rights, that means his pay day could be anywhere from $330 million to $415 million, according toSony declined to comment, while a representative for Springsteen was unable to provide any information.
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