Queen's catalog has been acquired by Sony Music in a massive deal valued at $1.27 billion, according to Variety.
The deal is believed to be the largest acquisition of its kind. Earlier this year, Sony paid at least $600 million for 50% of Michael Jackson's recorded masters and publishing catalog. The company also purchased the catalogs of Bruce Springsteen, Paul Simon and Tame Impala.
As Variety notes, the terms of the Queen deal are somewhat complicated, as Disney currently owns the recording rights thanks to a deal reached in the early 1990s. Meanwhile, Universal will remain Queen's worldwide distributor for the next few years. years until your current contract expires.
In addition to the rights to Queen's vast and lucrative music catalogue, Sony also obtains the rights to the band's name and image, opening the door to anything from a hologram production to a Las Vegas jukebox musical. Vegas and more musical biopics.
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