The Offspring sells song rights for a crazy amount of money

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A US music rights company has bought the rights to songs by The Offspring for an alleged $35 million (£24 million).

Based in New York, Round Hill's deal includes an extensive range of the American punk rock band's discography that they recorded for Columbia, Billboard reports.

Their biggest-selling records Igntion (1992) and Smash (1994) will remain with their original record label, Epitaph.

The Offspring's frontman Dexter Holland commented on the deal, saying: "We felt that having the right caretaker for our catalogue, both the masters and the publishing, is incredibly important to the future of our career."

"Round Hill understands that we are continuing to perform and record and that the visibility of our past is critical to our future."

The Offspring, who have sold over 36 million records worldwide, are perhaps best known for singles "Pretty Fly (For a White Guy)" and "Why Don't You Get a Job?". They will play a string of European festivals this summer.