Report: Queen to sell catalog to Sony for over $ 1 billion
Queen has reportedly made a lot of money selling off their catalog.
According to Variety, sources have confirmed a report first revealed on Hits that the British rockers are selling their catalog to Sony Music for a reported $1.27 billion.
The catalog includes such Queen hits as “Bohemian Rhapsody,” “Another One Bites the Dust,” “We Are The Champions” and “We Will Rock You.” The deal reportedly includes revenues for everything but the band’s live performances.
There have been rumors for months that the Queen catalog was up for sale, with Sony often mentioned as the front-runner. The latest report claims another buyer was in the running, but would not go over $900 million for the catalog.
Disney has owned the Queen recorded-music rights in the U.S. and Canada since 1991, and that will continue. The band also currently has a distribution deal with Universal, which will expire in either 2026 or 2027, and then it will be transferred to Sony outside the U.S. and Canada.
Queen isn’t the first act Sony has shelled out big bucks for. It previously purchased Bruce Springsteen’s catalog for a reported $500 million, and reportedly paid even more for 50% of Michael Jackson’s catalog.
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