Sony is reportedly discussing acquiring Queen’s music catalogue in a potential $1 billion (£800 million) deal. According to Bloomberg, Sony is working with another investor to purchase the catalogue, which includes popular hits such as ‘Bohemian Rhapsody’ and ‘Radio Gaga.’ This would be the largest sale of its kind and would encompass merchandising and other business opportunities. The talks are ongoing, and a deal may or may not result from them.
According to company filings, Queen’s surviving members—Brian May, Roger Taylor, and John Deacon—and the late frontman Freddie Mercury estate are all equal shareholders in Queen Productions Ltd. The company reported revenues of £52 million (£40.8 million) in 2022. In 2021, Bruce Springsteen sold his back catalogue to Sony for an estimated $500 million (£393 million), and in 2022, Sony acquired all of Bob Dylan’s catalogue in a deal.
Speaking about the deal, Dylan said,
“Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records. I’m glad that all my recordings can stay where they belong.”
Rob Stringer, the chairman of Sony Music Group, added:
“Columbia Records has had a special relationship with Bob Dylan from the beginning of his career and we are tremendously proud and excited to be continuing to grow and evolve our ongoing 60-year partnership. Bob is one of music’s greatest icons and an artist of unrivalled genius.
“The essential impact he and his recordings continue to have on popular culture is second to none and we’re thrilled he will now be a permanent member of the Sony Music family. We are excited to work with Bob and his team to find new ways to make his music available to his many fans today and to future generations.”
According to Billboard, Sony purchased a 50% stake in Michael Jackson’s music catalogue for around $600 million (£471 million).
