Sony Music Entertainment is to acquire the discography of legendary rock band Queen in a landmark deal worth £1 billion ($1.27 billion at current exchange rates).
This is based on number of clicks, The newspaper quoted sources as saying on Wednesday (June 19) sony music Has emerged as the winning buyer of Queen’s recording and publishing rights, as well as royalties from previous deals with record labels disney music group and universal music group.
Queen’s catalog includes such Bohemian Rhapsody, another one that’s settled and we’re gonna rock you, There are a lot more.
Disney owns the band’s catalog of music recorded in North America, and Universal Music Group has a global distribution deal with Disney. In addition, Queen members Brian May, Roger Taylor, and John Deacon – plus Freddie Mercury Legacy – everyone owns an equal share in the company Queen Productions Ltd.which owns the band’s discography outside the United States and Canada, global music business stated in a report last year.
Universal Music Group, as Disney’s distributor, will reportedly retain distribution rights in North America, but Sony will receive royalties. UMG’s global distribution rights will transfer to Sony in 2026 or 2027, making Sony Music the sole global distributor and owner of all Queen content, Clicks explained.
The deal also reportedly includes name and likeness rights, opening the door to merchandise and other ventures. Meanwhile, Queen’s founding members May and Taylor continue to tour with the frontman Adam lambertwill reportedly retain control of revenue from live performances.
The agreement is expected to be completed “in the coming weeks” But details about the manager Jim’s Beach His daughter’s involvement remains unclear. Another bidder reportedly offered US$900 million for rights, Clicks explain.
less than a month ago, Burundi According to the report, citing sources, Sony is “working with another investor” on a deal that “could amount to US$1 billion“.
News outlets at the time said talks were “ongoing and may not lead to a deal,” but that potential deals would include “merchandise sales and other business opportunities.”
last year, MBW It was first reported that talks were ongoing between the Queen’s representatives and certain companies over potential collaborations More than US$1 billion Catalog sales.
This reportedly includes rights to publish and record the music, all of which are owned jointly and equally by the estate of surviving band members May, Taylor and John Deacon, as well as Freddie Mercury.
then, MBW’s Major music companies including Universal Music Group as well as private equity groups have been discussing a sale, sources said.
If confirmed, the deal would be one of the largest music catalog acquisitions in history, surpassing Sony’s own US$500 million acquisition Bruce SpringsteenEnd of 2021 Table of Contents.
Earlier this year, advertising billboard Sony Music Group has reportedly acquired half of Michael JacksonAt least in his legacy $600 millionand in 2022, Sony Music wholly acquired bob dylancatalog of recorded music.
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