Queen are reportedly in talks to promote their catalog to Sony Music for $1 billion, in response to Bloomberg.
The report states that Sony are “working with one other investor” on the deal that “might probably complete $1 billion,” although it would not assure that an settlement will probably be made. If the deal is successful, it might embrace merchandising, along with their music and different entities.
BBC notes that the deal would be the greatest of its sort if it goes via, beating Bruce Springsteen’s $550 million take care of Sony in late 2021.
Music Enterprise Worldwide first revealed that Queen had a possible $1 billion deal within the works final Might, which would come with the entire publishing and recorded music rights of Brian Might, Roger Taylor, John Deacon and the property of late vocalist Freddie Mercury.
Nevertheless, the band’s recorded music rights are owned by totally different firms in numerous components of the world. Disney Music Group has possession of the rights in North America, whereas the group’s personal Queen Productions Ltd. and Queen Music Ltd. have possession of the recording and publishing catalogs in the remainder of the world, respectively.
READ MORE: Why Musical Artists Are Promoting Their Catalog Rights
If Queen and Sony come to an settlement, they will be considered one of many huge rock artists who’ve bought their catalog in recent times. In April, KISS bought their music catalog, identify, picture and brand to Pophouse Leisure Group. The group was apparently paid $300 million within the deal.
Motley Crue, Neil Younger, Bob Dylan, ZZ High and the present lineup of Alice In Chains — Jerry Cantrell, Sean Kinney, Mike Inez and William DuVall — have all bought their catalogs in the previous couple of years as nicely.
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