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Figure of the day: Queen sold its music catalog for more than $1 billion

Figure of the day: Queen sold its music catalog for more than  billion
Figure of the day: Queen sold its music catalog for more than  billion

Variety writes that Queen has struck a deal with Sony Music to sell its music catalogue. The company is not only purchasing the music catalogue, but also the production rights to the band’s products.

Queen. Photo: Legion-media

Queen’s only income not included in the agreement will be from concerts. According to sources, the deal was signed for $1.27 billion (almost 105 billion rubles), making it the largest acquisition of its kind in history.

The heirs of Queen’s surviving members Brian May, Roger Taylor, John Deacon and Freddie Mercury are equal shareholders of Queen Productions Ltd., according to the documents. Two years ago the company’s revenue amounted to 52 million dollars (4.3 billion rubles).

We previously wrote that John Lennon’s (The Beatles) guitar had been lying in the attic for 50 years. Note ed.) was sold for almost 267 million rubles.

Source: People Talk

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