Pink Floyd, known for hits such as Money and Shine On You Crazy Diamond, could soon be $500mn richer, with Warner Music and KKR-backed BMG competing to buy the band’s entire back catalogue, according to people familiar with the matter.
The British rock group is testing market appetite in a bid to follow stars such as Bruce Springsteen and Bob Dylan, who have sold their songbooks for hundreds of millions of dollars as prices have soared.
The deal would potentially surpass last year’s sale of Springsteen’s catalogue to Sony Music for a reported $550mn as the biggest music rights deal to date, according to people familiar with the talks.
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