An iconic rock band is selling its music and likeness rights for $400 million, according to reports.
Sources told Variety that Pink Floyd has agreed to sell its recorded music catalog and name-and-likeness rights to Sony Music in an agreement with primary songwriters Roger Waters and David Gilmour, as well as drummer Nick Mason and the estates of Richard Wright and Roger “Syd” Barrett. The deal is expected to include their iconic artwork from albums such as “The Wall” and “The Dark Side of the Moon,” as well as merchandise, theatrical and similar rights, but songwriting rights are still held by the original writers.
It’s one of the largest music acquisition deals in recent years, reportedly more than artists like Kiss, Sting, Justin Timberlake and David Bowie.
Reps for Pink Floyd and the record label have not commented on the deal, but Gilmour recently told Rolling Stone that he’s long been in favor of selling their music — but not for financial reasons.
“To be rid of the decision making and the arguments that are involved with keeping it going is my dream,” Gilmour told the magazine in August. “If things were different… and I am not interested in that from a financial standpoint. I’m only interested in it from getting out of the mud bath that it has been for quite a while.”
L to R: Dave Gilmour, Nick Mason and Roger Waters of Pink Floyd perform at the Live 8 benefit concert in 2005. (Photo by Yui Mok – PA Images/PA Images via Getty Images)PA Images via Getty Images
Gilmour and Waters have frequently feuded in public, including over Waters’ controversial political statements against Israel and Ukraine, and his support of Russia. Waters left Pink Floyd in 1985 over creative differences with Gilmour, but have occasionally reunited.
The English psychedelic rock group is one of the best-selling music artists of all time, thanks to hits like “Comfortably Numb,” “Money,” “Another Brick in the Wall, Part 2″ and “Wish You Were Here.” Pink Floyd was inducted into the Rock and Roll Hall of Fame in 1996 and their two most famous albums, “The Dark Side of the Moon” and “The Wall,” are in the Grammys Hall of Fame..
