Pink Floyd ‘set to make £400 million’ from the sale of their back catalogue
Pink Floyd are set to make an estimated £400m from the sale of their back catalogue.
It has been reported that the American private equity group Blackstone is competing with other companies such as Sony, Warner, BMG and Primary Wave for Pink Floyd’s catalogue.
According to The Times, the deal and copyrights would also include the band’s songs and master copy recordings.
The publication also reports that the band is looking for £400m but said the deal could fall apart if it goes over that number.
Pink Floyd was founded in 1965 by Syd Barrett, Nick Mason, Roger Waters, and Richard Wright, joined in 1967 by singer and guitarist David Gilmour.
Initially, the band released two charting singles and celebrated the successful debut of their 1967 album The Piper at the Gates of Dawn.
Earlier this year, Pink Floyd released its first new music in almost three decades to raise money for the people of Ukraine.
The track, called “Hey Hey Rise Up”, features Pink Floyd members Gilmour and Mason, with vocals from Ukrainian singer Andriy Khlyvnyuk of the band BoomBox.
“We want to express our support for Ukraine, and in that way show that most of the world thinks that it is totally wrong for a superpower to invade the independent democratic country that Ukraine has become,” Gilmour said of the new song.