Sony Music Leisure is to amass the discography of legendary rock band Queen in a landmark deal price £1 billion ($1.27 billion at present trade charges).
That is primarily based on variety of clicks, The newspaper quoted sources as saying on Wednesday (June 19) sony music Has emerged because the profitable purchaser of Queen’s recording and publishing rights, in addition to royalties from earlier offers with document labels disney music group and common music group.
Queen’s catalog contains such Bohemian Rhapsody, one other one which’s settled and we’re gonna rock you, There are much more.
Disney owns the band’s catalog of music recorded in North America, and Common Music Group has a worldwide distribution take care of Disney. As well as, Queen members Brian Might, Roger Taylor, and John Deacon – plus Freddie Mercury Legacy – everybody owns an equal share within the firm Queen Productions Ltd.which owns the band’s discography exterior the US and Canada, international music enterprise said in a report final yr.
Common Music Group, as Disney’s distributor, will reportedly retain distribution rights in North America, however Sony will obtain royalties. UMG’s international distribution rights will switch to Sony in 2026 or 2027, making Sony Music the only real international distributor and proprietor of all Queen content material, Clicks defined.
The deal additionally reportedly contains title and likeness rights, opening the door to merchandise and different ventures. In the meantime, Queen’s founding members Might and Taylor proceed to tour with the frontman Adam lambertwill reportedly retain management of income from dwell performances.
The settlement is anticipated to be accomplished “within the coming weeks” However particulars in regards to the supervisor Jim’s Seashore His daughter’s involvement stays unclear. One other bidder reportedly provided US$900 million for rights, Clicks clarify.
lower than a month in the past, Burundi In response to the report, citing sources, Sony is “working with one other investor” on a deal that “might quantity to US$1 billion“.
Information retailers on the time stated talks had been “ongoing and will not result in a deal,” however that potential offers would come with “merchandise gross sales and different enterprise alternatives.”
final yr, MBW It was first reported that talks had been ongoing between the Queen’s representatives and sure firms over potential collaborations Greater than US$1 billion Catalog gross sales.
This reportedly contains rights to publish and document the music, all of that are owned collectively and equally by the property of surviving band members Might, Taylor and John Deacon, in addition to Freddie Mercury.
then, MBW’s Main music firms together with Common Music Group in addition to personal fairness teams have been discussing a sale, sources stated.
If confirmed, the deal can be one of many largest music catalog acquisitions in historical past, surpassing Sony’s personal US$500 million acquisition Bruce SpringsteenFinish of 2021 Desk of Contents.
Earlier this yr, promoting billboard Sony Music Group has reportedly acquired half of Michael JacksonA minimum of in his legacy $600 millionand in 2022, Sony Music wholly acquired bob dylancatalog of recorded music.
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