Hall of Fame rock band Pink Floyd members are said to be seeking over US$500 million in a deal for their music catalog.
The sale by Pink Floyd would be one of the largest sales in music history.
Hall of Fame rock is said to be seeking over US$500 million in a deal for their music catalog. The sale by Pink Floyd members will be one of the biggest in music history.
Pink Floyd songs such as “Money” and “Comfortably Numb” are being sold by the Pink Floyd members and their recording and songwriting catalog, as well as the power to create merchandise based on the band.
Patrick McKenna, who is representing the members of the legendary band in the process, did not respond to an email seeking comment.
A list of four potential buyers has been narrowed by McKenna, an insider said. Sony Music Entertainment, Warner Music Group Corp, and BMG are some of the names on the list. Pink Floyd’s music is already distributed by Sony and Warner.
It’s no secret that the legendary British rock band released some of the best records of all time, including “Dark Side of the Moon” and “The Wall,” which defined music in the 1970s.
According to the Recording Industry Association of America, the group has sold 75 million records in the United States.
In recent years, many famous musicians have capitalized on the frothy market for song catalogs, both from music companies and financial institutions.
In a deal estimated to be worth over $150 million, Bob Dylan sold his recordings to Sony Music and his song catalog to Universal Music.
Pink Floyd Members fighting
However, Increasing interest rates and uncertainty regarding the economy are causing investors to be warier in investing in music portfolios. While the market is at its highest point, demand has remained stable.
There has been a challenge for decades getting the band’s members to agree on anything. In 1965, the band was formed under the direction of lead singer Syd Barrett.
Roger Waters quit the band in 1985 and sued his fellow members for using the name. David Gilmour, the band’s guitarist, and Waters have squabbled for decades over the releases of their albums.
McKenna, who runs the UK-based advisory group Ingenious Media, was chosen for that reason.