Queen catalog to be acquired by Sony for $1.2 billion

The Queen music catalog, along with a number of other rights, is in the process of being acquired by Sony Music for 1 billion pounds (around $1.27 billion), two sources confirmed to Variety.

The Queen music catalog, along with a number of other rights, is in the process of being acquired by Sony Music for 1 billion pounds (around $1.27 billion), two sources confirmed to Variety.

The news was first reported by Hits; according to their report, the only revenue not covered in the deal is for live performances, which founding members Brian May and Roger Taylor, who still actively tour with singer Adam Lambert, will retain.

One other player was said to be very close in the bidding, but stopped short at $900 million.

Queen’s music catalog is among the most valuable of the rock era — with classics like “Bohemian Rhapsody,” “Another One Bites the Dust,” “Radio Ga Ga,” “39,” “Somebody to Love” and “You’re My Best Friend” as well as the perennial stadium-shakers “We Will Rock You” and “We Are the Champions,” the songs are globally popular and enormously lucrative.

The success of the 2018 biopic “Bohemian Rhapsody” shows the potential for the group’s name and likeness rights, and the likelihood of a jukebox musical that could open in London or on Broadway and then tour indefinitely.

https://www.nbcnews.com/pop-culture/music/queen-catalog-acquired-sony-billion-rcna157981

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