Pink Floyd have struck a deal to sell the rights to their recorded music catalogue.
According to The Financial Times, who broke the news, the deal with Sony is worth 400 million dollars and includes Pink Floyd’s recorded music, the band name and the artists’ “likeness”, meaning that the label will have the rights to merchandise and spin-offs.
The FT points out: "Songs have two sets of copyrights: one for the songwriting and one for the recording, or master copy. Pink Floyd has agreed to sell their recorded rights, but not the songwriting, said people familiar with the matter."
Earlier this month, David Gilmour declared that it would be a "dream" of his to sell the band's catalogue.
Asked during a recent interview with Rolling Stone whether Pink Floyd were still interested in selling their recorded music rights, the vocalist/guitarist replied, "Is it something that is still in discussion, yeah".
“To be rid of the decision making and the arguments that are involved with keeping it going is my dream... 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.”
Sony and Gilmour declined to comment on the deal when approached by The Financial Times.
In August 2022, The Financial Times reported that a number of bidders including private equity group Blackstone plus music publishers Sony, Warner, BMG and Primary Wave, were in negotiations to purchase Pink Floyd's copyrights, and that a deal was expected within a few weeks.
However, it was later reported that the deteriorating relationship between the band members had “made it impossible” to negotiate, with one source telling the paper that the band “never need an excuse to disagree”.
