Bruce Springsteen to sell recorded music to Sony Music

• The value of Springsteen’s rights to his music is estimated to be between $330 million and $415 million

• Industry’s sources believe that this sale is part of Springsteen’s estate planning

Bruce Springsteen is in talks to sell the rights to his recorded music to Sony Music, according to reports from Billboard.

Billboard reported that the “Born in the USA” singer is also shopping his publishing catalog with all his rights estimated to be between $330 million and $415 million.

Industry sources believe that this sale is part of Springsteen’s estate planning. The movement in Washington to increase capital gains taxes above their current 20% level, may trigger the singer to make a deal before the end of the year, the publication said.

The latest news comes a month after Springsteen turned 72.

Springsteen has been with Sony Music’s Columbia Records since he first signed with the label in 1972. He regained the rights to his music throughout his career through contract renegotiations, Billboard reported.

The publication estimates that Springsteen’s albums carry a valuation of between $145 million and $190 million.

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Inputs from Billboard