Variety reports that the deal is rumoured to be worth between $150 million and $200 million, and was concluded in July last year.

Sony Music Entertainment now has Dylan's entire catalogue of recorded work, beginning with his 1962 self-titled debut up to 2020's Rough and Rowdy Ways. The deal also reportedly includes Dylan's future releases and reissues in his Bootleg Series.

Dylan has been with Sony Music Entertainment's Columbia Records since October 1961, and Rob Stringer, Chairman of Sony Music Group, said, "Columbia Records 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. Bob is one of music’s greatest icons and an artist of unrivaled genius. 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."

Dylan added, "Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records. I’m glad that all my recordings can stay where they belong."

News of Dylan's deal with Sony Music Entertainment comes after reports that David Bowie’s estate sold his music catalogue for more than $250 million earlier this month.

Last year the likes of Bruce Springsteen, Red Hot Chili Peppers, Paul Simon and more also sold their song catalogues.