$400M deal: Pink Floyd sells catalog to Sony Music

Pink Floyd has struck a deal with Sony Music to sell the band’s entire catalog to the production company.

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Sony purchased the rights to not only all of the music Pink Floyd had done over its decades-long career but also the band’s name and likeness rights. In exchange, it agreed to pay about $400 million, Variety reported.

The deal was discussed for a long time because of infighting between bandmates, specifically between Roger Waters and David Gilmour, the entertainment publication said.

The one thing that isn’t being purchased by Sony will be the songwriting, which is still owned by the individual writers.

Financial Times was the first to report the news.

Gilmour told Rolling Stone last month that it would be a “dream” to sell the band’s catalog and there were rumors that both sides were getting close to a deal, Consequence of Sound reported.

Neither the band’s representatives nor Sony confirmed the deal, but sources familiar with the agreement said it happened, Variety reported.

Sony earlier this year struck a deal for the music from Queen, paying more than $1 billion for the rights, Financial Times reported. Sony also bought the rights to music from Bob Dylan and Bruce Springsteen.