Primary Wave buys Bob Dylan’s share of The Traveling Wilburys – Music Business Worldwide
Primary Wave Music has acquired Bob Dylan’s share of supergroup The Traveling Wilburys.
Included in the deal, according to a media statement, are Dylan’s master royalties and neighboring rights royalties for both Traveling Wilburys albums, as well as the 2007 box set.
Primary Wave’s acquisition comes less than two years after Universal Music Group spent somewhere close to $400 million on Dylan’s song catalog. It also follows Sony Music Group‘s deal last year to buy his recorded music rights for north of $150 million.
Dylan was one of five members of The Traveling Wilburys, which also included superstar artists George Harrison, Jeff Lynne, Roy Orbison, and Tom Petty.
The band formed in 1988 after gathering to record a track for Harrison’s next singleied triple platinum by the RIAA. Their second album, Traveling Wilburys Vol. 3, was released in 1990 and was dedicated to Orbison who died two years earlier.
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Source: Primary Wave buys Bob Dylan’s share of The Traveling Wilburys – Music Business Worldwide
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