The multinational Sony Music is in negotiations to purchase the music catalog of the well-known British rock band Queen for 1.27 billion {dollars}, an settlement that doesn’t embody the rights to the performances that members of the group nonetheless make, in line with stories. media.
One other firm that needed to acquire this catalogue, which is among the many Most worthy of the rock period, fell brief by providing ‘solely’ $900 million, in line with Selection journal.
It additionally signifies that if the acquisition is accomplished, the transaction would surpass the biggest agreements of this sort, together with the publications and recorded music of Bruce Springsteen that Sony acquired for $600 million.
This deal was in 2021 the biggest transaction ever for a single artist’s catalog.
The record of enormous sums additionally consists of the practically $400 million that Common Music paid in 2020 to Bob Dylan, rock music legend and Nobel Prize winner in Literature, for the rights to his whole musical catalog, which incorporates greater than 60 years.
In June 2023 it emerged that the members of the band to which the late Freddie Mercury belonged had been within the technique of promoting their catalog for one billion {dollars} and that the client was Common Music, the biggest music firm on the planet.
In accordance with Selection, which cites three sources, the acquisition and sale settlement between Sony and Queen is superior and that the £1 billion determine “is actual.”
Additionally that the publishing property of the band members (Brian Could, Roger Taylor, John Deacon and the Mercury property, all of whom are equal shareholders of Queen Productions Ltd.) are on the desk, though different journal sources say in any other case.
He additionally highlights that Queen’s catalog is among the many Most worthy on the planet as a result of it consists of hits like ‘Bohemian Rhapsody’, ‘One other One Bites the Mud’, or ‘We’ll Rock You’, which proceed to be profitable, or ‘Radio Gaga’, ‘ Any individual to Love’, in addition to ‘We’re the Champions’ amongst different viewers favorites.
Not one of the events concerned on this advanced course of have issued feedback to verify or deny the sale of the catalog.
New York / EFE
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2024-06-23 06:30:40
