Queen have entered talks with Sony Music over the sale of their back music catalogue for close to $1 billion, according to reports.
The company are working with another investor over this proposed sale, it has been reported.
Should this deal be agreed, it would mean that Sony would acquire the rights to merchandising, as well as other business opportunities.
While talks have been ongoing since last year, there are no guarantees that a sale will be agreed.
Biggest deal of its kind
Queen who were fronted by Freddie Mercury until his death in 1991, were one of the most commercially successful groups in the history of music.
The band have not released new music in nearly three decades, however the money has continued to roll in, with tens of millions shared every year between the three remaining bandmates Brian May, Roger Taylor, and John Deacon, as well as the Estate of Freddie Mercury.
According to company filings for Queen Productions Ltd, revenues of $52 million (£41m) were recorded in the year up to September 2022.
If this deal was to be agreed, it would be the biggest sale of its kind, and would double the $500 million that Sony paid to buy Bruce Springsteen’s catalogue in 2021.
The company have already purchased a 50% interest in Michael Jackson’s music catalogue for close to $600 million earlier this year.
Queen have had six number one singles, 10 number one albums in the UK across five decades. They are renowned for classic rock hits including Another One Bites The Dust, Crazy Little Thing Called Love, We Will Rock You, and Radio Ga Ga.
A biopic about the band was also released in 2018 called Bohemian Rhapsody, starring Oscar winner Rami Maleek as Freddie Mercury.
Back in April, it was confirmed that the recording breaking Imax concert film, Queen Rock Montreal, would be made available to stream via Disney+.
More on this story from Nova here.
