The world-famous music group Queen’s albums, recordings and music rights are allegedly in the process of being sold.
CNN International, citing a source, reported that Universal Music Group is in talks with Disney Music Group to buy the rights to Queen’s music catalog.
The unnamed source claimed that the negotiations were going well. Universal Music Group could allegedly pay more than 1 billion dollars.
CNN International also reported that the deal could be finalized within a month.
Many artists such as Bruce Springsteen, Justin Bieber, Bob Dylan, Paul Simon, Stevie Nicks, Shakira and Neil Young have previously sold some or all of their works for millions of dollars.
For example, US musician Springsteen transferred the rights to his music catalog to Sony Music in December 2021 for $500 million. In December 2020, Dylan gave Universal Music the rights to all of his more than 600 songs for $300 million.
If the Queen deal is realized, the record for the most expensive music rights deal will be broken.
CNN International, Forbes, New York Times