Iconic British rock band Pink Floyd will sell the rights to their extensive music catalog to Sony Music. The Financial Times reports this.
According to the publication, the parties managed to reach an agreement in complex multi-year negotiations and the amount of the transaction will be 400 million dollars.
A source close to the musicians told the publication that the label will have the opportunity not only to sell recorded music, but will also be able to sell products under the Pink Floyd brand and will also receive the rights to produce films and television series.
As reported EADailyThe sale of one of the most lucrative catalogs in the industry has been discussed for years; previously attracted suitors such as Hipgnosis, Warner Music and BMG in 2022. The catalog includes some of the best-selling hits of the last 50 years, including Money, Wish You Were Here and Another Brick in the Wall.
Sony Music is also currently in negotiations to buy the rights to Queen’s music for approximately $1 billion, and has previously purchased a catalog of compositions. Bruce Springsteen.
