In a move that's sending shockwaves through the music industry, Pink Floyd, the legendary British rock band, has inked a colossal deal with Sony, handing over their music catalog, name, and likeness for a jaw-dropping sum.
This seismic agreement, as reported by the Financial Times and further detailed by 'Variety', marks one of the most significant transactions in recent memory, but it's not without its share of backstage drama and contention.
- Pink Floyd has sold
- Their catalog now belongs to Sony for $400 million
- THIS is how the deal broke down
The Saga Behind the Sale
Pink Floyd, known for their psychedelic soundscapes and philosophical lyrics, have been at the center of the music universe since the 1960s. However, it's not just their music that's been making headlines.
The band has been embroiled in internal feuds and public controversies, particularly surrounding Roger Waters, the co-founder and bassist, whose comments on various geopolitical issues have stirred the pot.
In 2022, 'Variety' reported that Pink Floyd had been looking to sell their recorded music and other assets for as much as $500m. Sources told the outlet that some potential buyers were put off after a 2022 interview with Waters in 'Rolling Stone', in which he made controversial comments about Israel, Ukraine, Russia and the United States.
Despite these hurdles, the deal with Sony has finally been sealed, but not before navigating through a maze of reported infighting among the surviving band members and the backlash from Waters' contentious remarks. These issues reportedly put a damper on the sale process, with some potential buyers stepping back after Waters' polarizing interview with Rolling Stone in 2022.
Waters has been a figure of controversy, facing accusations of antisemitism and criticism for his political stances, including his comments on Russia's invasion of Ukraine. His actions, including wearing a Nazi-style uniform at a Berlin concert, have sparked investigations and legal battles, further complicating Pink Floyd's legacy.
What? That's right.
Four sources claimed in March of 2023 that the band’s $500m catalog sale of the rights was “basically dead” due to conflicts between the surviving band members. But, sources close to the band at the time denied this claim.
Later that year, Waters was investigated by Berlin police over a Nazi-style uniform he wore at a concert there. In the same year, he won a legal battle allowing him to perform a concert in Frankfurt, Germany, after the city attempted to cancel the event amid accusations of antisemitism.
The city call Waters “one of the most widely known antisemites in the world” and reportedly objected to his concert in part due to the fact that a previous tour had featured a balloon shaped like a pig depicting the star of David and various company logos, as a part of the stage show.
Despite these challenges, Pink Floyd's catalog remains one of the most prized in music history, boasting iconic albums like 'The Wall' and 'Dark Side of the Moon.' Their decision to sell follows a trend among high-profile artists cashing in on their music rights, with Bruce Springsteen, Bob Dylan, and others making similar moves.
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This landmark deal not only underscores the enduring value of Pink Floyd's music but also highlights the complex interplay between art, politics, and commerce. As the band's catalog finds a new home with Sony, fans and critics alike will be watching to see how their legacy is managed amidst the controversies that have followed them.
