Hitsdailydouble.com is reporting the sale of everything to do with Queen — the song publishing, the recording rights, the use of image, dramatic productions, etc.
Sony, they say, has paid 1 billion sterling, or $1.2 billion for the entire deal. They’ll put out the records, monetize the songs, produce a decent stage show (not the We Will Rock You show that’s so popular in London).
Mind you, this is after the movie “Bohemian Rhapsody” was such a mega hit. But that probably drove up the value of Freddie Mercury’s songs (and also the ones by Brian May and Roger Taylor.
None of this addresses what happens to former member John Deacon, who retired a while ago. Deacon contributed to 22 Queen hits including “Under Pressure,” “You’re My Best Friend,” and “Another One Bites the Dust.” Deacon, along with manager Jim Beach, are likely going to get slices of this pie.
The big winner here is Mary Austin, who Freddie considered his common law wife. He left her half his estate. (The other half was divided between his parents and his sister.)
He also gave Mary his home Garden Lodge and all of his other possessions.
Sony Music Publishing now owns a big chunk of pop music publishing including the Beatles and Michael Jackson, Bruce Springsteen, Bob Dylan, and so on. This sale does make you wonder what the Beatles catalog would be valued at if it were on the market. (It’s also been a hot potato between Sony and Michael Jackson.) My guess would be $2 billion under these rules.
Sony has been monetizing the Beatles lately using “Come Together” in commercials. It won’t be long before we hear the Queen songs pitching cat food, credit cards, and Big Phama. We will never get away from “We Are the Champions.”
