Queen Music Catalog Being Sold For Over $1 Billion ... Sony Music's Big $plash
Queen's catalog is about to change hands, and it'll be an expensive acquisition -- 'cause Sony's acquiring the rights to the band's music ... spending 10 figures to lock it down.
The massive transaction -- valued at about $1.27 billion -- involves Queens' royalties for recorded music rights in the United States and Canada, plus a distribution deal outside the U.S. and Canada ... according to Variety.
Sony Music is buying the rights that used to belong to Disney, while Queen's distribution deal is currently managed by Universal and is going to expire in a couple years, at which point Sony will take the reins.