Pink Floyd sold the rights to their music catalog to Sony Music for around $400 million.
The Financial Times reported this after having listened to two people informed on the matter, but at the moment there is no confirmation from Sony Music nor comments from Roger Waters and David Gilmour, historical protagonists of the British band that produced songs of the caliber of Another Brick in the Wall, Wish You Were Here and Money.
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The sale of the rights of one of the bands that has marked the history of progressive rock has been hindered in recent years by the dispute between the two artists, who could not find an internal agreement either on the type of rights to be put up for sale or on the tax structure with which to offer them.
According to sources heard by the Financial Times, Pink Floyd’s deal with Sony Music for 400 million dollars concerns the rights to the recorded music, the name of the band and even the “likeness” of the artistsreferring to their image.
Composition rights were excluded from the agreementwhich in general concern the music and the actual lyrics of the songs.
Essentially, Pink Floyd only sold the rights to the recordings (therefore the masters of the songs we listen to), but retained the composition rights.
There was another attempted sale of the rights to Pink Floyd’s catalog in 2022, which attracted companies such as Hipgnosis, Warner Music and BMG, but which was then not resolved due to the discussions between Waters and Gilmour.
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With this agreement, Sony Music increases its haul of music rights, which include names such as Bob Dylan and Bruce Springsteen, and which this year it also picked up Queen in a £1 billion deal.
