Pink Floyd sell back catalogue to Sony in £400 million deal
Pink Floyd have reached an agreement to sell their back catalogue and likeness to Sony in a £400 million deal.
The legendary group have become the latest rock veterans to handover the rights to their collection of material. Other notable names who have also gone down this route include Bob Dylan, Neil Young, Sting, Bruce Springsteen, Rod Stewart, Queen, Stevie Nicks and Kiss.
During an appearance on The Howard Stern Show in 2022, Springsteen explained why he felt selling his rights was the right choice for him, “I just got to a point in my life where, you know, I’m 73-years-old and it was going to Columbia (Records) who I knew was going to take really good care of it. And so it was just a timing thing and it was like, ‘ok it makes sense’.”
As of yet, no member of Pink Floyd, such as Roger Waters or David Gilmour, have released a statement acknowledging the sale, which was first reported by the Financial Times. However, it has been talked about as a possibility for several years.
They previously looked set to part ways with their back catalogue in 2022 after a bidding war broke out from several major labels, such as Warner and BMG, along with Hipgnosis. Nevertheless, following another public disagreement between Waters and Gilmour, a deal was not able to cross the line.
It was also alleged that Waters’ comments on Russia’s invasion of Ukraine was one of the reasons why a deal stalled.
In a recent interview, Gilmour expressed his desire to reach an agreement to sell the rights to Pink Floyd’s music which he said would allow him to bring that chapter of his career to an end.
“It is something that is still in discussion, yeah,” he told Rolling Stone. Although the sale will reap huge financial returns for the band, Gilmour claimed he was more concerned with removing himself from the “mud bath” that Pink Floyd has become rather than monetary gains.
“To be rid of the decision making and arguments that are involved with keeping it going is my dream,” he explained, “If things were different… and 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.”
Providing further insight into the band’s business dealings, Gilmour said they operate on a “veto system”, explaining, “You could say it’s three people saying yes but one person saying no.”
Now, with Pink Floyd finally reaching a deal to sell their back catalogue and likeness, Gilmour no longer has to worry about dealing with his former bandmates in a business setting.
Will Pink Floyd ever reunite?
Although a Pink Floyd reunion already seemed unfeasible, this new agreement with Sony appears to be the final nail in the coffin.
Gilmour told ITV News in an interview in September: “Dream on, it’s not going to happen. There’s only three people left and we’re not talking and unlikely to so it’s not gonna happen.”
The former Pink Floyd musician is currently on his first world tour in close to a decade in support of his new album, Luck and Strange. The run of dates begins on September 27th at Circo Massimo in Rome, a venue Gilmour is set to play six times. He’ll then return to home soil for six performances at the Royal Albert Hall in London throughout October.
Gilmour is also scheduled to play four dates in Los Angeles, including three shows at the Hollywood Bowl. The tour concludes with five performances at Madison Square Garden in New York.
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