The iconic British rock band Pink Floyd has agreed to sell its recorded music and its rights to Sony Music for almost 400 million dollars (362 million euros), the specialized magazine Variety reported this Wednesday.
According to this medium, the agreement, described as one of the largest reached recently, has already been closed after decades of internal conflict between the members of the group, mainly between Roger Waters and David Gilmour.
The agreement includes the rights to the music already recorded and the rights to the name and image, but not the composition, which belong to the individual authors, Variety reported.
The magazine noted that most of his album illustrations, largely designed by the British company Hipgnosis, probably also fit into this decision.
Pink Floyd’s musical catalog includes albums such as “The Piper at the Gates of Dawn” (1967), “Meddle” (1971), “The Dark Side of the Moon” (1973), “Wish You Were Here” (1975) . “The Wall” (1979) or “Animals” (1977).
Variety recalled that Sony invested more than a billion dollars in the catalogs of artists such as Bruce Springsteen and Bob Dylan.
For Pink Floyd, as he highlighted, 500 million dollars were requested and the group was about to reach an agreement in 2022, but internal conflicts ended up delaying some interested parties.
Gilmour told Rolling Stone magazine in August that he was interested in closing the sale not so much for financial reasons but to free himself from decision-making.
Interested publishers have included Warner Music and BMG in the past, but Waters’ controversial statements about Ukraine, Russia and Israel appeared to influence the move.
Waters said some Jews in the United States and the United Kingdom are responsible for Israel’s actions “because they pay for everything.”
Source: Observadora
