Queen could sell their catalogue to Sony for $1bn


Sony Music is reportedly in talks to buy the music catalogue of the rock band Queen, including hits like Bohemian Rhapsody, Radio Ga Ga and Another One Bites The Dust.

According to Bloomberg, external, Sony is working with another investor on the transaction, which “could potentially total $1 billion” (£790 million).

The BBC understands that negotiations are still under way and may not result in a sale.

If it goes ahead, the deal would cover Queen’s songs and all related intellectual property – including the rights to logos, music videos, merchandise, publishing and other business opportunities.

Discussions over the sale have been taking place since last year.

Universal Music is also said to have been involved, owing to the company’s longstanding relationship with the band, who signed with the British label EMI in 1972 and remained with the company after it was bought by Universal in 2011.

If the group achieve the $1 billion price tag, it will be the biggest deal of its kind, surpassing the $500 million (£393 million) that Sony paid to acquire Bruce Springsteen’s catalogue in late 2021.

Earlier this year, Sony also acquired a 50% interest in Michael Jackson’s music from the late singer’s estate – at a cost of at least $600 million (£472 million).


Source link