British rock band Pink Floyd has reportedly sold its recorded music catalog, along with its name and likeness rights, to Sony Music for $400 million.
Sources told Variety the legendary rock band had come to an agreement after decades of fighting among band members. According to the outlet, this deal only includes recorded music rights, not songwriting.
Pink Floyd’s music catalog is one of the most valuable in contemporary music with albums such as “Dark Side of the Moon,” “The Wall,” “Wish You Were Here,” “Animals,” “Meddle,” “Piper at the Gates of Dawn” and “More.”
According to the outlet, Sony has spent more than $1 billion on music catalogs, from Bob Dylan to Bruce Springsteen.
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Pink Floyd did not immediately respond to FOX Business’ request for comment.
Pink Floyd’s music catalog has reportedly been in play for years. Variety reported the band nearly closed a deal in 2022 for $500 million, but infighting among band members killed the deal.
Specifically, Roger Waters’ comments against Israel and Ukraine and being in favor of Russia made it difficult for the deal to close, according to Variety.
In 2022, Pink Floyd released its first new music in almost three decades to raise money for the people of Ukraine. “Hey Hey Rise Up” features Pink Floyd members David Gilmour and Nick Mason, with vocals from Ukrainian singer Andriy Khlyvnyuk of the band BoomBox.
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Pink Floyd was founded in London in the mid-1960s and helped forge the U.K. psychedelic scene before releasing influential 1970s albums such as “The Dark Side of the Moon,” “Wish You Were Here” and “The Wall.”
Waters, an original member, quit in 1985, and the remaining members of Pink Floyd last recorded together in 1994 for the album “The Division Bell.”
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