It has been reported that Sony is in talks to purchase Queen‘s music catalogue in a potential $1 billion (£800m) deal.
According to Bloomberg, Sony is allegedly working alongside another investor on the purchase of the catalogue – which includes hits such as ‘Bohemian Rhapsody’ and ‘Radio Gaga – which would be the largest sale of its kind.
The transaction would include merchandising and other business opportunities. The Bloomberg report shared that talks were still ongoing and could potentially not result in a deal.
As per company filings, Queen’s surviving members – Brian May, Roger Taylor, John Deacon – and the estate of late frontman Freddie Mercury are all equal shareholders in Queen Productions Ltd and reported revenues of $52 million (£40.8 million) in 2022.
Back in 2021, Bruce Springsteen sold his back catalogue to Sony for an estimated $500 million (£393 million). In 2022, Sony acquired all of Bob Dylan’s back catalogue in deal.
Speaking about the deal, Dylan said: “Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records. I’m glad that all my recordings can stay where they belong.”
Rob Stringer, the chairman of Sony Music Group, added: “Columbia Records has had a special relationship with Bob Dylan from the beginning of his career and we are tremendously proud and excited to be continuing to grow and evolve our ongoing 60-year partnership. Bob is one of music’s greatest icons and an artist of unrivalled genius.
“The essential impact he and his recordings continue to have on popular culture is second to none and we’re thrilled he will now be a permanent member of the Sony Music family. We are excited to work with Bob and his team to find new ways to make his music available to his many fans today and to future generations.”
Elsewhere, as per Billboard, Sony aquired a 50 per cent interest in Michael Jackson‘s music catalogue for roughly $600 million (£471 million).
In other Queen news, May recently praised The Who‘s Pete Townshend, saying that he “basically invented” rock guitar.
The guitarist recently joined The Offspring on stage for a live performance of ‘Gone Away’ and a cover of ‘Stone Cold Crazy’. He also teamed up with French composer and performer Jean-Michel Jarre at the Starmus Festival.
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Sony reportedly in talks to buy Queen’s music catalogue for $1billion
Source: Pinas Mabuhay
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