Sony wants to buy Queen's music catalog. People familiar with the matter said this major acquisition could cost billions of dollars. This is not the first time that the surviving members of the historical British band were reportedly selling the group's catalog. But is the news about Sony finally true?
Queen's Music Catalog To Be Purchased by Sony
According to Business Standard, Sony Music is discussing a billion-dollar purchase that would allow it to acquire Queen's music catalog, including their iconic song "Bohemian Rhapsody."
Sources stated that the electronics firm is talking with another investor to purchase the music catalog, which could cost $1 billion. If this happens, it would be considered one of the most significant acquisitions of its kind.
The potential music catalog acquisition is said to open up other business opportunities, such as merchandising. However, it's important to note that these discussions are not yet set in stone, leaving the outcome hanging in the balance.
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Will Sony Acquire Queen's Music Catalog?
If Sony acquires Queen's music catalog, it would greatly benefit the company. The catalog features megahit songs like "Another One Bites the Dust" and "Killer Queen," as reported by Music Business Worldwide.
Brian May, John Deacon, and Roger Taylor- the surviving Queen members- equally and jointly own the music catalog, combining publishing and recorded music rights. However, they haven't confirmed if they are already in talks with Sony.
Aside from Sony, other major players in the industry, such as Universal Music Group, are reportedly vying for the Queen music catalog. The interest from private equity groups further intensifies the competition, underscoring the value and appeal of this acquisition.
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