According to Bloomberg, Sony is currently in the talks to acquire the catalog of iconic British rock act QUEEN in a transaction that “could potentially total $1 billion.”
Bloomberg also noted that the negotiations “are ongoing and may not result in an agreement,” but a potential deal would include “merchandising and other business opportunities.”
The news of Sony‘s reported negotiations to acquire QUEN‘s catalog comes a year after Music Business Worldwide revealed that discussions were taking place between QUEEN‘s representatives and various companies regarding a potential catalog sale exceeding $1 billion.
QUEEN band members Brian May, Roger Taylor, and John Deacon, along with the Freddie Mercury estate, each hold equal shares in Queen Productions Ltd, the company that owns the group’s recording catalog outside the US and Canada.
According to the latest annual report from Queen Productions Ltd., the band earned £40.89 million in the fiscal year ending September 30, 2022.
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