The Queen music catalogue, along with a number of other rights, is in the process of being acquired by Sony Music for £1 billion (around €1.18 billion), per a report by Variety.

According to the report, the only revenue not covered in the deal is for live performances, which founding members Brian May and Roger Taylor, who still actively tour with singer Adam Lambert, will retain.

Another player was said to be extremely close in the bidding, but wouldn’t go higher than $900 million.

The deal has been closed for £1 billion, making it the biggest acquisition of its kind ever.

Back in 2021, Bruce Springsteen sold his back catalogue to Sony for an estimated £393 million (€465 million), and in 2022, Sony acquired all of Bob Dylan’s back catalogue in a deal.

Sony has also acquired a 50 per cent interest in Michael Jackson‘s music catalogue for roughly £471 million (€557 million).

Queen’s music catalogue is among the most valuable of the rock era — with classics like 'Bohemian Rhapsody', 'Another One Bites the Dust', 'Radio Ga Ga', '39', 'Somebody to Love' and 'You’re My Best Friend' as well as 'We Will Rock You' and 'We Are the Champions', the songs are globally popular and extremely lucrative.

The logistics of Queen’s deal remains complicated as Disney currently owns the band’s recording rights in the US and Canada, and the group’s distribution deal, which is currently with Universal, will go to Sony in all territories outside the U.S. and Canada when it expires in 2026 or 2027.

Queen’s surviving members – Brian May, Roger Taylor, John Deacon – and the estate of late frontman Freddie Mercury are all equal shareholders in Queen Productions Ltd and reported revenues of £40.8 million (€48.3 million) in 2022.