Queen's Freddie Mercury
Fri, 31 May 2024
Source: Skynews
Sony Music is reportedly negotiating to acquire Queen's music catalogue for about $1 billion.
The deal would include rights to merchandising and other business opportunities.
Talks have been ongoing since last year and may not lead to a deal.
Despite not releasing new music for 27 years, Queen still earns tens of millions annually, split among the remaining members and Freddie Mercury's estate.
If the deal goes through, it would be the largest of its kind, surpassing Sony's previous acquisition of Bruce Springsteen's catalogue for $500 million.
Selling music rights has become lucrative for artists, with investors offering high sums for evergreen hits.
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Source: Skynews