Sony Music is reportedly in advanced negotiations to acquire the music rights of English rock band Pink Floyd for nearly $550 million, according to the Financial Times.
However, the deal has faced challenges due to personal conflicts between band members Roger Waters and David Gilmour, making it difficult to finalize an agreement.
Earlier, companies like Hipgnosis, Warner Music, and BMG also attempted to purchase the highly lucrative catalogue, which includes iconic tracks such as "Money," "Wish You Were Here," and "Another Brick in the Wall."
Despite progress, sources caution that the deal remains uncertain due to previous hurdles.
‘The potential deal shows that there is still significant interest in buying the music rights of well-known artists, whose hits remain popular among new generations thanks to streaming services and their use in TV and films. However, the industry has had a harder time in recent years as higher interest rates eroded returns and made other investments look more attractive,’ the report added.
Sony Music is reportedly in talks to acquire Queen's music rights for around $1 billion, following its previous acquisition of Bruce Springsteen’s catalogue, backed by Eldridge Industries, led by Todd Boehly.
In recent years, music rights deals with major artists like Bob Dylan and Neil Young have surged in popularity.
Both Roger Waters and David Gilmour of Pink Floyd have pursued successful solo careers, with Gilmour recently releasing a new album and preparing for a tour. The band also includes drummer Nick Mason, and the estates of keyboardist Richard Wright and original frontman Syd Barrett.
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