According to CNN, Universal Music Group is trying to acquire Queen’s catalog from Disney Music Group, and the sum they are bouncing around is around $1 billion. CNN is citing an undisclosed source close to the discussions that are “well underway.”
The source added that the sale could surpass $1 billion and that the deal is “expected to close within one month.”
If the sale goes for such or a similar sum, it would surpass the sale of Bruce Springsteen’s catalog from December 2021, which was $500 million.
CNN adds that the billion dollar total for Queen’s music is surely that high thanks in part to the 2018 Oscar-winning film Bohemian Rhapsody, which told the story of the band’s inception with a focus on late frontman Freddie Mercury, thereby inspiring a resurgence in popularity of the band’s music.
CULTURE (counter, pop, and otherwise) and the people who shape it.