World News

Pink Floyd's planned £450m sale of back catalogue stalls

Pink Floyd’s planned £450m sale of back catalogue stalls amid ‘disagreement’ between band members

  • The band are the latest rock legends looking to cash in on their history 
  • Investors are poised to buy the rights to their songs for use in films and adverts
  • Rights will also be bought to allow investors to use their songs in video games  

Pink Floyd are mired in a dispute which has delayed the £450 million-plus sale of their back catalogue, according to reports.

The band are the latest rock legends looking to cash in on their history, with investors poised to buy the rights to their songs for lucrative use in films, adverts and video games. Artists whose material has been snapped up recently include Bob Dylan, the Beach Boys, David Bowie, Bruce Springsteen and – just last week – Genesis.

It is understood Pink Floyd – famed for multi-million-selling albums Dark Side Of The Moon and The Wall – have been eyeing up an auction sale since May.

But according to the Financial Times, disagreement between members of the group has put the hoped-for deal on hold.

The band, pictured in 1973, are the latest rock legends looking to cash in on their history, with investors poised to buy the rights to their songs for lucrative use in films, adverts and video games

The controversial views of former bassist Roger Waters – who has had a strained relationship with his former bandmates for decades – are said to have played a role.

Reports say the auction process has been held back several months because of arguing over tax, assets, and Waters’s claims that he is on an assassination hit list in Ukraine.

The 79-year-old, who has made statements deemed sympathetic to both the Russian and Chinese regimes, last week claimed to be on an Ukrainian ‘kill list’.

Reports say the auction process has been held back several months because of arguing over tax, assets, and Waters’s, pictured, claims that he is on an assassination hit list in Ukraine

His remarks come after the Kiev-based website Myrotvorets accused Waters of spreading ‘anti-Ukrainian propaganda’ and of challenging Ukraine’s territorial integrity.

Speaking to US magazine Rolling Stone last week, Waters said: ‘I’m on the f****** list, and they’ve killed people recently.’

The Pink Floyd catalogue has received interest from a wide group of investors and music companies, including Blackstone, Sony Music and Warner Music.

The band members would be in line to make more than £450 million, making it one of the biggest music rights deals ever. But one bidder for the catalogue said the fraught relations had ‘made it impossible’.

Source: Read Full Article