Canadian pop star Justin Bieber has reportedly parted ways with his music catalog in a deal valued at $200 million, amid speculation about financial difficulties.
The report, which originated from American entertainment outlet TMZ, stated that the chart-topping artist sold the rights to his music, making it one of the most significant deals of its kind in recent years.
While the report did not disclose full details surrounding the transaction, it was noted that Bieber’s former manager, Scooter Braun, had allegedly advised him not to go through with the sale, citing potential tax implications.
Despite the advice, Bieber is said to have moved forward with the agreement.
The news has ignited conversations across the entertainment world, highlighting the changing dynamics of the music industry. Neither Bieber nor his management team has issued a statement in response to the reports at the time of filing this story.