Music

Universal Music Group Plots $1 Billion Queen Catalog Deal: Report

Universal Music Group Plots $1 Billion Queen Catalog Deal: Report
Picture Credit score: Carl Lender / CC by 3.0

Common Music Group (UMG) is reportedly in superior talks to accumulate Queen’s catalog for north of $1 billion.  

The potential song-rights sale (in addition to its astonishing price ticket) only in the near past got here to gentle in a short piece from CNN, which cited an nameless supply with information of the discussions. Per stated supply, negotiations between Common Music Group and Disney Music Group are “‘properly underway,’” and the sizable transaction is “‘anticipated to shut inside one month.’”

Predictably, neither Common Music nor Disney Music (which inked a far-reaching take care of Queen again in 1990) had commented publicly on the reported song-rights selloff on the time of this writing. However the main label has spearheaded huge music-IP investments up to now, amongst them a reportedly $200 million play for Dr. Dre’s catalog, a deal for Neil Diamond’s physique of labor, and, particularly through UMPG, a reportedly $300 million buyout of Sting’s catalog.

Although song-rights gross sales (and extra investor capital) have continued to pour in by 2023’s preliminary 5 months – together with the aforementioned Dr. Dre catalog deal and, additionally in January, Justin Bieber’s reportedly $200 million settlement with Hipgnosis – runaway valuations have grow to be usually much less widespread.

In the meantime, rising charges and different financial elements seem to have impacted the worth of and curiosity behind sure catalogs. And as all the time, feedback from nameless sources needs to be taken with a grain of salt.

On the previous entrance, Warner Bros. Discovery in April reportedly deserted plans to dump its music library after receiving lower-than-expected affords for the IP in query. Execs had been looking for a cool $2 billion windfall, however finally, high-end bids had are available at round $1.3 billion, in accordance with studies.

On the intersection of probably declining catalog valuations and unreliable particulars from ostensibly well-informed nameless sources, a number of rumored gross sales have but to shut. Final 12 months, as an example, purportedly in-the-know events signaled that Pink Floyd’s catalog had all however offered for a cool $500 million.

Subsequently, nonetheless, it emerged that disagreements between the group’s long-feuding members – on high of questions on precisely which rights could be included – had been disrupting negotiations. With over a 12 months having now handed because the attainable transaction entered the media highlight, proof means that there’s a distant probability of the deal occurring.

Extra not too long ago, nameless sources in February indicated that the Michael Jackson property was trying to promote a 50 p.c curiosity within the King of Pop’s catalog for upwards of $900 million – valuing the IP at a staggering $1.8 billion whole. Whereas a deal should wrap, nearly 4 months have handed with out an replace (not to mention a proper announcement) of any form.

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