Shine On You Crazy Millions...
The iconic British rock band has agreed to sell their catalogue and also reportedly accepted to sell rights to their name and likeness. This valuable deal comes after years of infighting among bandmembers. Legendary British rock band Pink Floyd have agreed to sell their back catalogue and name-and-likeness rights for $400million (€362m) in a deal with Sony Music.
The deal, first reported by the Financial Times and confirmed by Variety, is one of the largest and most valuable in recent years – considering the band recorded classic albums like ' ', 'The Wall', 'Wish You Were Here', 'Animals', and 'Piper at the Gates of Dawn'. The deal comprises recorded-music rights but not songwriting, which is held by the individual writers. The name-and-likeness includes merchandise, theatrical and similar rights.
The deal has apparently concluded despite decades of infighting between Pink Floyd’s bandmembers, notably Roger Waters and David Gilmour. Gilmour recently told Rolling Stone that he was interested in a sale less for financial reasons than “to be rid of the decision making and the arguments that are involved with keeping it going.” He added: “I am not interested in that from a financial standpoint.
I’m only interested in it from getting out of the mud bath that it has been for quite a while.” The “mud bath” most likely refers to the tensions between him and Waters, which came to a head recently when Gilmour claimed . Last year, Wate.