Sony Group Corp (NYSE:SONY) is reportedly on the cusp of securing the rights to Pink Floyd’s back catalogue through a deal worth half a billion dollars.
Having previously attracted the likes of Hipgnosis, Warner Music and BMG, the Financial Times reported Friday that the band was in advanced talks with Sony over the rights.
This reportedly follows a rift between band members David Gilmour and Roger Waters, which had clouded chances of a sale of the rights.
If Sony were to secure the back catalogue, which includes historic bestsellers such as ‘Wish You Were Here’ and ‘Money’, it would be able to use Pink Floyd’s music across the likes of television and films.
Sony is also in the process of trying to buy rights to Queen’s back catalogue through a US$1 billion (£760 million) deal.
This follows a US$700 million investment from private equity firm Apollo in July to support music acquisitions.
Sony also bought an interest in Michael Jackson’s back catalogue earlier this year, having bought Bruce Springsteen’s in 2021, with the latest deal proving the appetite for big artists’ rights remains.