The monumental sale of Bob Dylan’s song catalog to Universal Music Group Publishing took a new twist with a report that the legendary songwriter turned down a $400 million offer before taking the deal.
Dylan rejected a $400 million offer from Merck Mercuriadis’ Hipgnosis Songs Fund, a source familiar with the deal tells Rolling Stone.
Mercuriadis and others involved refused to confirm the deal. “I congratulate [UMGP] on making the deal,” he commented. “You don’t need me to say this is one of the greatest catalogs of all time. There’s Bob Dylan, there’s the Beatles, and there are very few others that touch that rarified air.”
Hipgnosis has built a portfolio of more than 60,000 songs worth about $1.66 billion since launching in 2018.
