THIS music company to acquire Queen's Catalog for £1 Billion

Sony Music is set to acquire the music catalog of the legendary rock band Queen for £1 billion (approximately $1.27 billion), according to sources confirmed by Variety. Initially reported by Hits, the deal includes most of Queen's music rights but excludes revenue from live performances. Founding members Brian May and Roger Taylor, who still tour with singer Adam Lambert, will retain those rights.

Another potential buyer had bid $900 million but ultimately withdrew, leaving Sony as the successful bidder. Queen's catalog is one of the most valuable in rock history, featuring iconic songs like “Bohemian Rhapsody,” “Another One Bites the Dust,” “Radio Ga Ga,” “Somebody to Love,” and stadium anthems “We Will Rock You” and “We Are the Champions.” These tracks continue to be immensely popular and financially lucrative. The 2018 biopic "Bohemian Rhapsody" further boosted the band's global appeal, and there is potential for a jukebox musical that could run in London or on Broadway and then tour.

The deal has been progressing towards Sony for several months. However, it is complicated by Queen’s recorded music rights for the U.S. and Canada, which were acquired by Disney in the 2000s after an initial $10 million licensing deal in 1991. Disney will retain these rights permanently, though some royalties from them will be transferred to Sony once the deal is finalized. Additionally, Queen’s current distribution deal with Universal, which expires in 2026 or 2027, will also move to Sony for all territories outside the U.S. and Canada.

Representatives from Sony Music, Sony Music Publishing, Disney’s Hollywood Records, and Queen declined or did not immediately respond to Variety’s requests for comments. Sony is known for not publicly discussing its catalog acquisitions, even though its significant deals for artists like Bruce Springsteen and Bob Dylan are well-known within the industry.

This acquisition highlights the enduring value and popularity of Queen's music, securing its place in music history and ensuring that it continues to reach new audiences globally.