Sony Music acquires Queen's catalogue for $1,27 billion

Queen's music catalogue, along with other copyrights, is in the process of being acquired by Sony Music for $1.27 billion, sources have confirmed to Variety.

The news was first reported by Hits. According to the report, the only revenue not covered by the deal is from live performances, which will be retained by founding members Brian May and Roger Taylor, who are still touring with singer Adam Lambert.

The deal, worth about $1.27 billion, includes the rights to Queen's music catalogue for the United States and Canada, as well as a distribution deal outside these regions, according to Variety.

Sony is purchasing the rights currently owned by Disney, while Queen's distribution deal is presently managed by Universal and is due to expire in a few years, at which point Sony will take over.

The deal does not include revenue from live performances, as founding members Brian May and Roger Taylor will retain these rights.

Queen's music catalogue is among the most valuable of the rock era, featuring classic hits such as "Bohemian Rhapsody," "Another One Bites the Dust," "Radio Ga Ga," "'39," "Somebody to Love," "You're My Best Friend," and "We Are the Champions." These songs are popular around the world and extremely lucrative.

Queen was originally formed in London in 1970 by May and Taylor, who previously played together in the band Smile. A year later, they were joined by Freddie Mercury on vocals and piano, and the following year by John Deacon on bass.

[Information from CNA]