Queen 's music catalog is expected to be sold to Sony Music for US$1.27 billion, approximately R$6.8 billion at the current exchange rate. In addition to the music, the record label also acquired merchandising and other business opportunities involving the band.
According to Variety , which broke the news of the deal, the only factor excluded from the sale was live performances. The article also states that another company entered the bidding, but their offer remained at US$900 million, approximately R$4.8 billion. Sony has not yet commented on the matter, and the identity of the other company has not been revealed.
However, the sale of Queen's catalog is not completely finalized, because Disney has owned the recording rights to the legendary band in the US and Canada since the 1990s. Universal Music Group acts as the band's worldwide distributor and will continue in this role for the next few years, until the existing contract expires.
It's worth remembering how Sony bought the catalogs of other artists, such as Bruce Springsteen (US$ 500 million), Bob Dylan (around US$ 400 million) and Michael Jackson (US$ 600 million).
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