The music catalog of rock band Queen could soon sell for more than $1 billion, CNN is reporting.
Citing an anonymous source, CNN says a deal is underway for Universal Music Group to acquire the catalog from Disney Music Group. The $1 billion-plus deal is “expected to close within one month,” the news network reports.
A spokesperson for Disney Music Group told CNN the company has no plans to sell the catalog.
If the reported deal does happen, the sale price would far outpace the $500 million amount for the purchase of Bruce Springsteen’s catalog in 2021, thought to be the current record holder.
Other recent catalog sales include the works of David Bowie, which sold last year for a reported $250 million, Justin Bieber ($200 million) and Bob Dylan ($300 million).
