The music catalog of the legendary rock band Queen, which is currently owned by Disney, could soon sell for more than $1 billion, according to CNN.
What’s Happening:
- Discussions are reportedly “well underway” for Universal Music Group to acquire Queen’s catalog from Disney Music Group.
- The acquisition price could surpass $1 billion, with the deal “expected to close within one month.”
- A spokesperson for Disney Music Group, however, told CNN the company has no plans to sell the catalog.
- The high asking price for Queen’s music could be in part due to the Oscar-winning 2018 film, Bohemian Rhapsody, which told the story of the band’s inception, with Rami Malek portraying Queen frontman Freddie Mercury.
- Another legendary artist, Bruce Springsteen previously sold his song catalog in December 2021, fetching a total of around $500 million.
- Other artists that have recently sold their music catalogs include Justin Bieber, Sting, and the estate of David Bowie.