Sony Music’s landmark Queen catalog acquisition is getting nearer and nearer to changing into ‘official’.
Based on studies over the previous few weeks, Sony Music Group has agreed to accumulate the catalog of the legendary rock band in a deal reportedly price roughly GBP £1 billion (USD $1.27 billion at present trade charges).
On the £1 billion price ticket, the transaction will turn into the most important artist catalog deal in music historical past.
Sony is known to be shopping for the band’s world music publishing rights, their ‘title and likeness’ rights, plus their recorded music pursuits — together with their recording copyrights exterior of North America, the place their masters are owned by Disney Music Group.
(Sony already administers Queen’s publishing rights, whereas the band’s recorded music is at present globally distributed through Common Music Group.)
Plus, MBW’s sources instructed us earlier this month that noises are getting louder that Apollo International Administration is a co-investor within the deal.
Sony Music hasn’t confirmed the studies, however in the present day (July 16) we will present you the clearest proof but that Sony Music is within the means of taking management of Queen’s property.
Based on filings publicly out there on the UK’s Firms Home, and reviewed by MBW, Queen’s surviving ‘Traditional’ band members Brian Could, Roger Taylor, and John Deacon are not Administrators of Queen Productions Restricted.
Queen Productions Restricted is the UK-based firm that owns the group’s recording catalog exterior the US and Canada. It additionally collects the band’s turnover, together with recording and sync royalties, and efficiency earnings.
Band members Could, Taylor, and Deacon seem to have resigned as Administrators of Queen Productions Restricted as of June 26. The notices had been printed on Wednesday, July 10 (see under).
Neil Adleman, a lawyer whose bio says he works with purchasers together with “the band Queen” amongst others, was beforehand a secretary of Queen Productions Restricted. Adleman’s appointment was additionally terminated as of June 26.
Curiously, on the identical day (July 10) that the Director termination notices had been filed, Queen Productions Restricted’s registered workplace deal with was modified to 2 Canal Attain, which is Sony Music Leisure‘s registered workplace deal with in London.
A brand new Director was additionally appointed for Queen Productions Restricted as of June 26: Mr. Charles Henry Stanford. Based on LinkedIn, Stanford is a Sony Music Government.
Queen Productions Restricted’s newest annual financials had been printed final month and confirmed the corporate’s fiscal efficiency in FY 2023 (to the tip of September final 12 months).
The corporate reported GBP £39.47 million in income for the fiscal 12 months ended September 30, 2023. On the common trade fee for 2023, that’s equal to USD $49.1 million.
Along with terminating their Directorships of Queen Productions Restricted, as of June 26, all three of Queen’s surviving “traditional’ members are not Administrators of Queen Music Restricted, which owns the rights to Queen’s music publishing catalog, which is run by Sony Music Publishing.
A new Director was appointed for Queen Music Ltd on June 26, nonetheless: Tim Main, the Co-Managing Director of Sony Music Publishing UK.
Queen Music Ltd.’s registered deal with has additionally been modified to the identical deal with as Sony Music’s registered deal with in London.
Past Queen Productions Restricted and Queen Music Restricted, MBW has recognized 16 different UK registered firms related to both the surviving Queen members or the property of Freddie Mercury that now depend both Charles Stanford or Tim Main as Administrators as of June 26. These firms have additionally seen Queen’s members resign as Administrators.
Different notable Director resignations at a few of these firms embrace Mary Austin (Goose Productions), who inherited a big portion of Freddie Mercury’s fortune, and long-time Queen supervisor Jim Seaside (Goose Productions and Mercury Songs).
The registered addresses for these UK-based entities have additionally all been modified to Sony Music’s registered workplace deal with in London: 2 Canal Attain.
These firms embrace:
Bohemian Theatrical Productions Restricted
We Will Rock You Restricted
Queen Theatrical Productions Restricted
Queen Touring Restricted
Mercury Songs Demerged Holdco Restricted
Nightjar Demerged Holdco Restricted
Queen On-line Restricted
Duck Rockco Restricted
Duck Demerged Holdco Ltd.
Raincloud Productions Restricted
Queen Movies Restricted
We Will Rock You Movies Ltd
Nightjar Rockco Restricted
Mercury Songs Rockco Restricted
Goldfinch Productions Restricted
Goose Productions Restricted
Queen’s catalog, together with each publishing and recorded music rights, is collectively and equally owned by the band’s surviving ‘traditional’ line-up (Brian Could, Roger Taylor, John Deacon) plus the property of Freddie Mercury.
Disney Music Group (through its possession of Hollywood Information) owns Queen’s recorded music rights in North America; the band owns them in all places else on this planet. (DMG has a world distribution settlement with Common Music Group.)
Hits reported final month that UMG, as Disney’s distributor, will retain distribution rights in North America, though Sony will obtain the royalties.
UMG’s worldwide distribution rights will then switch to Sony in 2026 or 2027, making Sony Music the only distributor and proprietor of all Queen content material globally.
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