U.S. musician and songwriter Bob Dylan was awarded the Nobel Prize in Literature on Thursday.

The 75-year-old won the prize "for having created new poetic expressions within the great American song tradition," the Swedish Academy said.

Earlier Thursday, the Italian news agency ANSA reported that playwright and actor Dario Fo, who was awarded the Nobel Prize for Literature in 1997, died in a hospital in Milan at the age of 90.

Famous for his biting political satire, the writer of Accidental Death of an Anarchist performed the one-man play Mistero Buffo around the world for 30 years.

"His satire, his research, his work on set design, his multi-faceted artistic activity remain the legacy of a great Italian in the world,” said Italian Prime Minister Matteo Renzi.

The award is worth about $930,000.

The Nobel Prize in economics was announced on Monday and the prizes in medicine, physics, chemistry and the Nobel Peace Prize were announced last week. The winners will collect them at a ceremony on Dec. 10.