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Pink Floyd Catalogue To Sell For A ‘Comfortably Numbing’ $680M

Pink Floyd’s back catalogue is being eyed up for a massive $680 million (£400 million) purchase by major player in the music rights industry Blackburn.

The band is one of the best-selling artists of all time, with an iconic catalogue including albums such Dark Side of The Moon, Wish You Were Here and The Wall. It is looking to sell both the master recordings and copyrights for £400 million.

Blackburn would secure the deal through Hipgnosis Song Management (HSM), a company in which it owns a majority stake.

After purchasing HSM, the company established Hipgnosis Songs Capital, a 1.4 billion dollar ($1 billion USD) fund looking to purchase the back catalogues of major artists. So far, it now owns just under $500 million ($341 million USD) in back catalogues belonging to the likes of Justin Timberlake, Nelly Furtado and Leonard Cohen.

The purchase of the Pink Floyd catalogue could cost the company more than all of their previous acquisitions combined, as Blackstone looks to establish itself as a true industry titan in the music rights market.

However, Blackburn is not alone in wanting to purchase Pink Floyd’s long and hit stacked back catalogue, with Sony Music, Warner Music, BMG rights management backed by KKR and Primary Wave all interested in the purchase themselves.

Interest in a purchase of this magnitude comes at an interesting time, as music companies begin to slow catalogue deals thanks to rising interest rates. The last few years saw major artists such as David Bowie, Bob Dylan, Stevie Nicks and more sell their catalogues, with private equity firms reaping the royalty payments over periods of low interest rates.

US firms however are benefiting from a weaker British pound, meaning the price tag of the catalogue is reduced in terms of US dollars.

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