Sony Music is in talks to buy Queen’s music catalogue, which includes songs such as Bohemian Rhapsody and Radio Gaga, in a potential $1bn (£800m) deal, according to Bloomberg.
Sony is said to be working with another investor on the transaction that would be the largest sale of its kind and include merchandising and other business opportunities, according to the Bloomberg report, which said talks were continuing and might not result in a deal.
Brian May, Roger Taylor, John Deacon and the estate of Freddie Mercury are equal shareholders in Queen Productions Ltd, which reported revenues of $52m in the year ended September 2022, according to company filings.
In recent years there has been a frenzy to acquire music catalogues, which have attracted billions of dollars in investments from specialist investment funds and private equity companies such as KKR and Blackstone, competing for deals against traditional music companies.
Songwriting catalogues are seen as attractive investments because they can be used for decades in films, played on the radio or used for advertisements – all producing royalties for the owners of the rights.
Bruce Springsteen’s back catalogue was sold to Sony in 2021 for an estimated $500m, while Neil Young and Bob Dylan have struck deals in the hundreds of millions. In 2022 Warner Music acquired David Bowie’s songbook for about $250m.
This year, Sony acquired a 50% interest in Michael Jackson’s music catalogue from the late singer’s estate for at least $600m, Billboard reported.
However, some investments have fared less well. The British music royalties investment fund Hipgnosis, which owns the rights to songs by artists from Beyoncé to Neil Young, agreed to a $1.6bn takeover by Blackstone, the private equity house, last month after months of turmoil over the company’s structure and leadership.
Hipgnosis launched a strategic review last year to assess its business options after a revolt by shareholders over a planned catalogue sell-off.
after newsletter promotion
Sony Music and Disney Music Group, which owns the Queen rights in North America, have been contacted for comment.
A spokesperson for Queen declined to comment.