Pink Floyd could make over $500 million from the sale of their master recordings and publishing rights, with a number of potential buyers having expressed interest in taking ownership of the legendary band's catalogue.
The Financial Times reports that the American private equity group Blackstone is to face competition from Sony, Warner, BMG and Primary Wave and others for the group's copyrights. The paper suggests that the acquisition would cost a minimum of £400 million, but a bidding war between interested parties could push a potential deal north of that figure, to make it the biggest of its kind. The FT says that a deal could be agreed "within a few weeks."
In December, Bruce Springsteen became the latest superstar musician to cash in on his life's work.
The 72-year-old singer/songwriter sold his songs and publishing to Sony for a reported $500 million (£376 million). In doing so, the New Jersey-born artist followed in the footsteps of Bob Dylan, Neil Young, Blondie, Paul Simon, Stevie Nicks, David Crosby and more, all of who have cashed in on their publishing in the past couple of years.
Pink Floyd's finances will likely receive another boost next month when they finally release the much-discussed 2018 remix of their 1977 album Animals. It will arrive through Warner Music [Sony Music outside Europe] on September 16, with the Deluxe version available from October 7.
The Animals 2018 Remix will be released on CD, LP (with gatefold artwork), Blu-ray, SACD and Deluxe Gatefold formats.
The Deluxe Gatefold version includes vinyl, CD, audio Blu-ray, audio DVD and a 32-page book. The Blu-ray and DVD audio include the 2018 remix in Stereo, 5.1 Surround (both by James Guthrie) and the original 1977 Stereo mix.
The 32-page booklet features rarely seen behind the scenes photographs of the album sleeve shoot along with live images and memorabilia. The album's iconic artwork has been reimagined for the new release.