Enrique Iglesias reportedly sold his music catalogue to Influence Media Partners for a whopping nine-figure sum.
The Hero hitmaker has agreed a deal with the music rights firm that covers his name, image, and likeness in a bid to boost licensing opportunities.
Bloomberg was the first to report the alleged amount Enrique will earn from the partnership.
He said in a statement: "My songs hold immense significance for both my fans and me. I'm excited to be working with the Influence Media team. I feel confident we will build an enduring partnership for my music and future projects."
Influence Media Founder and Co-Managing Partner Lylette Pizarro commented: "Enrique is a global icon and having him as a part of our Influence Media family is a game-changing moment for us.
"For a quarter of a century, he has captivated fans globally with chart-topping and record-breaking hits.
"From Experiencia Religiosa to Hero and Bailando to I Like It and Be With You, there are few artists who come close to accomplishing what Enrique has achieved commercially.
"He has played a pivotal role in introducing bilingual music to the masses. We couldn't be more excited to partner with one of the most recognisable figures in modern music."
The 48-year-old Latin star — who is currently on his Trilogy North America jaunt — is the latest to land a deal with Influence following in the footsteps of the likes of Blake Shelton, Future and Julia Michaels.
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