Pink Floyd is looking to sell its music catalog at a price of $500 million in a deal that would make it one of the largest in music history.
The bidding war has narrowed to four potential buyers, including BMG, Warner Music Group, and Sony Music Group, according to Bloomberg News.
The plan to sell the famed rock group’s music catalog was first noted in May. The new update revealed negotiations have come down to a select number of buyers and a near-record level music deal.
The group has released multiple hits stretching back to the 1970s, including “The Dark Side of the Moon,” known as one of the top-selling albums in history, along with the popular album “The Wall.” The band’s last album, “The Endless River,” was released in 2014.
In total, Pink Floyd’s albums have sold 75 million copies in the U.S., making it the 10th most of any artist, according to the Recording Industry Association of America.
Pink Floyd appears eager to cash in on the emerging music rights market that has led to numerous mega-deals in recent years. A similar $500 million-range deal was struck between Bruce Springsteen and Sony Music Group in December, according to Billboard.
Musical artist Bob Dylan also inked a deal with Universal Music Group last year that included his 600-song collection in a reported $300 to $400 million agreement. The New York Post noted the deal could be the largest acquisition of a single act.
“It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of people all around the world,” Universal Music Group’s chairman and CEO Sir Lucian Grainge said in the report.
“I have no doubt that decades, even centuries from now, the words and music of Bob Dylan will continue to be sung and played — and cherished — everywhere,” he added.
Pink Floyd also released a new single in April featuring Andriy Khlyvnyuk with all proceeds going to Ukrainian Humanitarian Relief.
🇺🇦🌻 Pink Floyd's new single, Hey Hey Rise Up – feat Andriy Khlyvnyuk – is out now worldwide.
Download / stream at https://t.co/1pbIrENapV
All proceeds of the song will go to Ukrainian Humanitarian Relief.
Watch the full video with subtitles in Ukrainian and English below. pic.twitter.com/NqO71NAhaO
— Pink Floyd (@pinkfloyd) April 8, 2022
The band’s Twitter account stated that the April digital release reached number one in 27 countries. The band has since released a vinyl record and CD single in support of the people of Ukraine.
Pink Floyd are releasing Hey Hey Rise Up with a newly reworked A Great Day For Freedom on 7" & CD single, 15 July (Japan: 3 Aug; US/Canada/Australia/Mexico: 21 Aug) in support of the people of Ukraine. April's digital release reached #1 in 27 countries.https://t.co/9BxRuw4Cdx pic.twitter.com/1kQltUOPeV
— Pink Floyd (@pinkfloyd) June 23, 2022
The Ukrainian singer Khlyvnyuk from the band Boomboxs served in the Ukrainian military and was later hospitalized after being hit by shrapnel.
“We, like so many, have been feeling the fury and the frustration of this vile act of an independent, peaceful democratic country being invaded and having its people murdered by one of the world’s major powers,” Pink Floyd guitarist David Gilmour said.
“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,” he added.