Pink Floyd in talks with Sony Music to buy band’s catalog for $500M: report
Sony Music is in advanced talks to buy the rights to Pink Floyd’s music catalog for $500 million – though it is being stalled by differences among some of the ban🐓d members, according to a report.
It has been difficult to reach a deal because some of the band members – in particular bassist and singer Roger Waters and guitarist and singer David Gilmour – have personal differences, anonymous sღources .
The catalog acquisition is poised to✤ be one of the most lucrative deals in the industry. Multiple bids – from groups including Hipgnosis, Warner Music and BMG – for the ba🌄nd’s music rights have fallen through over the years.
But Pink Floyd is now moving forward with talks with Sony Music to sell the cat🌜alog – which includes hits like “🀅Money,” “Wish You Were Here” and “Another Brick in the Wall,” sources told the FT.
There is no guarantee the sale will happen,♑ though, since there 🏅have been issues in the past trying to lock in a deal, a source told the FT.
But the move shows that there is still interest among the industry in buying the rights to legacy artists’ music catalogs — even though higher interest rates have cratered returns on rights acquisitions.
In July, private equity group Apollo invested $700 million in Sony to help fund music aꦡcquisitions.
Established artists’ music can live on for longer, as younger fans are introduced to their music in TV shows and films⛄ through streaming services, which could explain why catalog deals have continued.
Sony Music is also in talks to buy the rights to Queen’s music for about $1 billion.
The company pr♊eviously acquired Bruce Springsteen’s ca🤡talog with backing from Eldridge Industries, founded by investor Todd Boehly.
Universal Music💝 bought Bob Dylan’s entire songwꦦriting catalog in 2020. The price was not dis🔜closed, but it was estimated around $300 🅷million. ;
Hipgnosis bought Neil Young’s catalog rights in 2021, which reportedl�⛦�y cost around $150 million.
Water🧸s and Gilmour each led solo careers after the group disbanded.
The psychedelic rock band wa💯s formꦍed in the 1960s and revolutionized rock concerts with their use of holographic projections and other visual and sound effects.
Three of the band’s albums are among the best-selling of all time.
So🐻ny Music did not immediately respond to requests for comment.
