After months of murmurs, news broke just before the long Memorial Day weekend that, according to unnamed sources, the surviving members of Queen were in the process of closing a deal for the legend…
were in the process of closing a deal for the legendary group’s catalog for a mind-boggling $1 billion. Universal Music Group, the world’s largest music company, was said to be the likely buyer.the deal is in advanced stages — although another close to the situation says it is very preliminary — and that the billion-dollar price tag is “real.” However, exactly what is included in the package is not entirely clear.
If true, the acquisition would dwarf the largest such deals on record, which include Bruce Springsteen selling his publishing and recorded-music to Sony for a reported $600 million and Bob Dylan selling his publishing to Universal for a price said to be nearly $400 million.
Obviously, whether or not that sum is realistic depends on what is included in it. Three sources tellthe publishing assets of the bandmembers — Brian May, Roger Taylor, John Deacon and the estate of, all of whom are equal shareholders in Queen Productions Ltd. — are on the table, although another says they are not.
Indeed, Hollywood’s 1991 deal with the group has turned out to be one of the most far-sighted in the industry. At the time, lead singer Freddie Mercury was widely rumored to be afflicted with AIDS, although he did not confirm the reports until the day before his death.
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