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Private equity set to buy Pink Floyd back catalogue for up to $500m

Private equity set to buy Pink Floyd back catalogue for up to $500m
In brief

US private equity company Blackstone is in talks to buy Pink Floyd’s back catalogue for up to half a billion dollars, the Financial Times reports.

The deal would be struck through Hipnosis song Management, the London-listed hedge fund founded by Merck Mercuriadis, a former manager for Elton John.

Pink Floyd would become the latest major music act to sell its back catalogue to Hipnosis. Last year Neil Young sold half of his back catalogue to Hipnosis. The Red Hot Chili Peppers struck a similar deal last May, while Fleetwood Mac singer Stevie Nicks sold 80% of her song rights to publishing house Primary Wave in December 2020. That same month,  Bob Dylan sold his entire catalogue to Universal Music Group for £225m.

The Media Leader editor Omar Oakes wrote in February: “Hedge funds and record labels know that there is big money in having exclusive rights to mega-artists who won’t live forever and can’t benefit from film and TV royalties after they’re dead.”

 

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